Bharti planning Bangladesh tower sale, paper says

22 Jan 2014

Indian group Bharti Airtel has earmarked its Bangladeshi mobile network tower infrastructure for sale, according to Indian newspaper the Economic Times citing sources with direct knowledge of the matter, who added that Bharti has received potential buyer interest for the 4,000-strong tower assets of Airtel Bangladesh, separately to interest solicited in the group’s previously reported African tower sale proposal. The unnamed sources also claimed that Bharti expects to raise at least USD200 million from divesting its towers in Bangladesh (compared to a mooted price-tag of USD1.5 billion-USD1.8 billion for a package of 15,000 towers across several African countries). The Indian paper quoted sources saying US and Middle Eastern tower management companies — in some cases backed by financial investors — have bid for both the Bangladesh and African assets, while a Bharti spokesperson simply responded to enquiries with: ‘As a company policy, we do not comment on market speculation.’

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