Bharti Airtel announced it has completed transactions in seven out of 13 African countries, selling about 8,300 towers or close to 60 percent of the mobile operator's total tower base in Africa. In a statement to the bourse, Airtel said preliminary agreements have lapsed in four countries, while the process is pending still in two countries. The total proceeds from all the concluded transactions in these seven countries is over USD 1.7 billion. This is being used for reducing debt of the company. It said tower sales and lease back shall continue to remain a strategic priority for Airtel in all its operating countries across Africa and accordingly, the balance of towers will be also be disposed in time. Further details on the completed transactions were not disclosed.
