Airtel has disclosed it is no longer going ahead with the proposed sale of its telecoms towers in Chad and Tanzania to Helios Towers as earlier announced.
In a stock market statement, Airtel noted that plans had lapsed and therefore terminated.
“With reference to the Press Release dated July 09, 2014 regarding ”Airtel divests telecoms tower assets to Helios Towers Africa”, Bharti Airtel has now informed BSE that the agreements for sale of tower assets in Tanzania and Chad between the respective subsidiaries of Bharti Airtel Limited and Helios Towers Africa have lapsed and therefore stands terminated,” reads the statement.
In response to the Airtel statement Helios Towers noted the announcement by Bharti Airtel re: the agreement concerning telecoms towers in Tanzania and Chad.”HTA places great value on its business partnership with Airtel and will continue to work with them in Tanzania and elsewhere, including Congo Brazzaville where HTA recently closed a similar transaction with Airtel,” said the statement.