Bharti Airtel has agreed to sell about 3,100 telecoms towers Helios Towers Africa (HTA). Under the deal, Airtel will divest towers in four countries in Africa, expanding HTA’s footprint to over 7,800 owned towers. The sale proceeds will help Airtel reduce debt as well as reduce its ongoing capital expenditure. Airtel will have full access to the towers from HTA under a long-term lease contract, while related personnel will transfer to Helios.
The agreement is subject to statutory and regulatory approvals in the respective countries. No financial details were disclosed. HTA operates in Ghana, Tanzania and the Democratic Republic of Congo. Airtel, which operates in these three countries and a total 17 nations in Africa, did not say which four countries are covered by the deal.