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Bharti Airtel to Sale its Towers in Africa to Clear a $10 Bilion Debt

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­topimg_20713_mobile_tower_600x400New reports claim Bharti Airtel aims to raise some $1.8 billion from the sale of  its 15,000 towers in Africa.

The firm is seeking funds to clear its near US$10 billion of debt and has at the moment received expressions of interest from Helios, ATC, Eaton and IHS.

The reports indicate Airtel was earlier planning to spin off the towers  as a separate firm to list it on the stock market or make a partial sale.

According to Cellular News, “In a research note, Kotak Institutional Equities warned though that a tower transaction of this scale has never happened in the African market; in addition, the fact that the tower assets have still not been demerged from most of the opcos in Africa makes any call on timing of such a deal very tricky.”

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Sam Wakoba
Sam Wakobahttp://techmoran.com
Taking you on tour through Africa's tech and business ecosystem, one story at a time since 2010! Based out of Nairobi, Kenya, Sam is the founder and managing director of Moran Media, which runs  TechMoran.com, various other digital platforms and a startup incubation hub for Kenya's youthful entrepreneurs. Drop me a mail at [email protected]

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