Mobile service provider Bharti Airtel has sold more than 3,100 telecom towers in four African countries to Helios Towers Africa in a bid to reduce debt and optimize capital expenditure.
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Helios Towers Africa, an independent telecom tower company, will benefit from the deal as it its tower coverage in Africa will increase to over 7,800 owned towers, said Airtel in a statement.
As per the tower deal, Bharti Airtel will have full access to the towers from HTA under a long term lease contract, while Airtel will transfer tower operations-related personnel to HTA.
Bharti Airtel said the agreement allows the African telecom operator to focus on its core business and customers. The main benefit to Airtel will be that it can reduce debt and reduce its capital expenditure on passive infrastructure.
Manoj Kohli, chairman, Bharti Airtel International Netherlands, said: “It is an important step towards the consolidation of towers across Africa that will drive cost and operational efficiencies through telecom site infrastructure sharing.”