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Airtel divests African tower assets to Eaton Towers
2014-09-08 09:18:00| Telecompaper Headlines
(Telecompaper) Bharti Airtel announced an agreement for the divestment of telecoms towers in Africa to Eaton Towers. Under the deal, Airtel will sell and lease back over 3,500 towers to Eaton in six countries across its African operations under a 10-year contract. The agreement will allow Airtel to focus on its core business and customers, enable it to deleverage through debt reduction, and will significantly reduce its on-going capital expenditure on passive infrastructure. Eaton Towers already operates in seven countries in Africa with over 5,000 towers under management. The agreement is subject to statutory and regulatory approvals in the respective countries.
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Category:Telecommunications