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Wireless

Airtel to sell Tanzania towers to American Tower Corp

Monday 21 March 2016 | 13:58 CET | News
Bharti Airtel announced a definitive agreement for American Tower Corporation to buy about 1,350 of its communications towers in Tanzania. Under the agreement, American Tower may acquire up to 100 additional sites currently in development for an additional consideration. Airtel will be the anchor tenant on the portfolio under a lease with a ten-year initial term. The statement said the sale agreement will allow Airtel to focus on its core business and customers, besides helping reduce debt and capital expenditure. The transaction is expected to close during the first half of 2016, subject to

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Categories: Mobile & Wireless
Companies: Airtel Tanzania / American Tower / Bharti Airtel
Countries: Tanzania, United Republic of
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