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Airtel completes sale of 8,300 mobile towers in Africa for $1.7 billion

Bharti Airtel said today that it has completed the sale of about 8,300 mobile towers for USD 1.7 billion (about Rs 11,000 crore) in Africa.

Airtel said in a statement that “As on date we have completed the sale transaction in seven countries for approximately 8,300 towers representing close to 60 percent of the total tower base.”

In Africa, Bharti Airtel has around 14,000 mobile towers and has decided to exit the tower business.

The statement further said that “the total value of proceeds from all the concluded transactions in these seven countries is over USD 1.7 billion and is being utilized for reducing the debt of the company.”

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