- Airtel Africa, has signed agreements with Helios Towers for the sale of its towers in Madagascar and Malawi for $108 million.
- The two deals are expected to close in Q4 subject to regulatory approval.
Airtel Africa, has signed agreements with Helios Towers for the sale of its towers in Madagascar and Malawi for $108 million. The two deals are expected to close in Q4 subject to regulatory approval. Negotiations are on for similar deals in two other markets.
The contracts, according to reports, cover 1,299 towers and also include an obligation on Airtel Africa to build a further 195 sites across the two countries within three years of completion at an estimated cost to Helios Towers of a further $11 million. A statement from Airtel Africa said that the money raised will be used for reducing debt and strengthening network and sales infrastructure in the respective markets.
Both the parties also signed another memorandum of understanding for the potential sale of around 1,000 tower assets in Chad and Gabon. These two deals are expected to close before the end of next March.It may be recalled that Airtel Africa announced the sale of a $200 million stake in its mobile money arm last week in another attempt to cash in on its assets.
