In a bid to bolster its cash reserves, Bharti Airtel, the world's fourth largest mobile telephony firm is planning to sell its Bangladesh tower assets. The mobile operator is expecting to fetch at least $200 million from divesting its towers in Airtel Bangladesh. Bharti Airtel took full control of its mobile service operations in Bangladesh last year, buying out a 30% stake held by Warid Telecom, a wholly-owned subsidiary of the Abu Dhabi Group.
In separate development, the company is planning to split its $1.8 billion-valued African tower business. Further, the company is planning to sell African tower business on a country-by-country basis. The company has put Nigeria towers on the block first. The valuation of Nigeria towers has pegged at around $500-$550 million.
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.
