Bharti Airtel is reportedly in advanced stage of discussion with American Tower Corporation (ATC) and Eaton Towers for selling its tower assets in several African countries, including Nigeria, Ghana and Uganda. The deal is likely to be in the range of $1.5-2 billion. The proceeds from the deal is likely to be used for reduction of debt. The net debt of the company at the end of June 2014 stood at Rs 57,744.3 crore.
Airtel had in July sold 3,100 telecom towers in four African countries to Helios Towers Africa for an undisclosed sum. The company now has around 14,500 towers left in Africa.
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.
