Express Computer
Home  »  News  »  Bharti sells 4,800 towers in Nigeria to ATC for $1.05 bn

Bharti sells 4,800 towers in Nigeria to ATC for $1.05 bn

0 453

Sunil Bharti-led Bharti Airtel Ltd will sell more than 4,800 mobile phone masts in Nigeria to American Tower Corp for $1.05 billion, as part of its plan to cut costs and pare debt.

Mobile operators in Africa such as Bharti Airtel have been selling masts to specialist tower firms and leasing them back to cut maintenance costs on a continent with poor access to electricity and shoddy roads.

Bharti Airtel has agreed to be the anchor tenant on the masts it is selling to American Tower initially for 10 years, the companies said in a joint statement on Monday.

American Tower said in a separate regulatory filing it expected the deal value to be about $1.05 billion, subject to adjustments.
The companies expect to close the deal during the first half of 2015, they said.

Bharti Airtel, India’s top telecommunications company, entered Africa in 2010 by acquiring loss-making telecoms operations for $9 billion, funded by debt. The Indian company has yet to turn a profit in Africa because the high cost of running the operations eat into margins.
Nigeria is Bharti Airtel’s biggest market in Africa.

The latest deal comes after an agreement to sell more than 3,500 mobile phone masts in six African nations to Eaton Towers, a transaction sources said was worth up to $800 million. In July, Bharti Airtel agreed to sell about 3,100 masts in four African countries to Helios Towers Africa.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

LIVE Webinar

Digitize your HR practice with extensions to success factors

Join us for a virtual meeting on how organizations can use these extensions to not just provide a better experience to its’ employees, but also to significantly improve the efficiency of the HR processes
REGISTER NOW 

Stay updated with News, Trending Stories & Conferences with Express Computer
Follow us on Linkedin
India's Leading e-Governance Summit is here!!! Attend and Know more.
Register Now!
close-image
Attend Webinar & Enhance Your Organisation's Digital Experience.
Register Now
close-image
Enable A Truly Seamless & Secure Workplace.
Register Now
close-image
Attend Inida's Largest BFSI Technology Conclave!
Register Now
close-image
Know how to protect your company in digital era.
Register Now
close-image
Protect Your Critical Assets From Well-Organized Hackers
Register Now
close-image
Find Solutions to Maintain Productivity
Register Now
close-image
Live Webinar : Improve customer experience with Voice Bots
Register Now
close-image
Live Event: Technology Day- Kerala, E- Governance Champions Awards
Register Now
close-image
Virtual Conference : Learn to Automate complex Business Processes
Register Now
close-image