Bharti Airtel has reportedly split its Africa towers business. The company has around 15000 towers in Africa. Meanwhile, Helios tower is planning to buy Bharti Airtel’s towers in Nigeria. The company’s Nigerian towers valued at $500-550 million. The company has around 5,000 towers in Nigeria.
Airtel’s net debt at the end of 2013-14 stood at Rs 60,541.6 crore ($10.4 billion), which would come down following the tower sale, thereby reducing the stress on the company’s balance sheet.
Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.
