Bharti Airtel is reportedly likely to sell African tower business for a valuation of $1.8 billion. The company is planning to sell 15,000 towers in Africa to cut down its debt, which currently stands at 65,000 crore and 70% of which is in foreign currency. The company was earlier mulling transferring Africa tower business to Bharti Infra. However, the company reportedly now has received Expression of Interest (EOI) from 4 prospective buyers, namely, Helion, ATC, IHS and Eaton.
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
