Bharti Airtel said it will sell over 1100 telecoms towers across 2 countries in Africa to IHS Holding Limited, the largest mobile telecommunications infrastructure provider in Africa.
The sale in Zambia and Rwanda will be followed by a 10-year leaseback contract.
“The agreements 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 in these African markets,” the Indian company said.