Bharti Airtel announced an agreement to sell approximately 950 telecoms towers in the Democratic Republic of Congo (DRC) to Helios Tower Africa. The divestment also includes towers currently under construction in the DRC.
In a statement, Airtel said the agreement will allow it to focus on its core business and customers, while enabling it to deleverage through debt reduction. The deal will significantly reduce Airtel's ongoing capital expenditure on passive infrastructure and also mitigate the proliferation of towers through enhanced sharing.
The deal will expand HTA's coverage in Africa to over 6,500 owned towers. No financial details of the transaction were disclosed.
