Airtel Tanzania, a subsidiary of Bharti Airtel, has decided to sell 1,350 telecom towers in Tanzania to American Tower Corporation (ATC).
Under the deal, American Tower may acquire up to approximately 100 additional sites currently in development for an additional consideration.
Airtel will be the anchor tenant on the portfolio under a lease with a ten-year initial term.
Christian de Faria, MD & CEO (Africa), Bharti Airtel, said: “The proposed transaction is a continuation of our stated philosophy of divesting passive infrastructure assets and promoting sharing of towers to enhance operational efficiencies.”
The tower sale agreements allow Airtel to reduce debt, and significantly reduce the on-going capital expenditure on passive infrastructure.