Bharti Airtel is likely to ink its $1 billion telecom tower deal in Nigeria this month.
Economic Times reported that Airtel is looking to raise $1 billion from the telecom tower deal in Nigeria.
Talks are in advanced stages with American Tower Company (ATC), HIS Towers, etc.
Earlier, Airtel sold 3,100 telecom towers to Helios Towers for $800 million in the continent. Airtel did not officially confirm the size of the deal with Helios Towers.
Airtel is planning to reduce its debt. Airtel debt came down to $9.6 billion in June from $10.07 billion in March.
The Sunil Mittal-promoted telecom operator is targeting to mobilize $3 billion from selling towers in Africa. The company has 15,000 towers in 17 African nations.
Last month, Bharti Airtel sold 4.5 percent stake in Bharti Infratel to raise Rs 2,100 crore.
Baburajan K
editor@telecomlead.com
