Airtel is looking to sell its 4800 or even more communications towers in Nigeria to American Tower Corp. the deal is said to be worth approximately $1.05 billion and it is said that the deal should be closed by mid-2015, of course subject to regulatory and other conditions.
The deal was signed with ATC through an international arm Bharti Airtel International, and in a statement the companies said that, ‘Airtel will be the anchor tenant on the towers initially for 10 years.’
Although Airtel has the majority of its subscribers in Nigeria, the company will be selling this towers which are in several African countries so as to cut costs.
America Tower is a wireless and broadcast communications infrastructure company that owns, operates and develops communications sites. Its primary business includes leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a number of other industries.