Bharti Airtel, a leading global telecommunications company, has completed the sale transactions of its tower assets in 5 countries while in two countries the agreements have lapsed. The company had earlier announced agreements to divest tower assets in thirteen countries in Africa to different tower companies. The total proceeds from the transactions already concluded are over $1.3 billion which would be utilized for reducing the debt of the company.
For the balance 6 countries, the process is on and the company hopes to have the finality in the coming few months on the transactions proposed, subject to availability of all approvals and completion of the conditions precedent.
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.
