Bharti Airtel is close to concluding the sale of its tower assets across Africa, the Economic Times cites people familiar with the matter as saying. The deal is expected to be finalised within the next week and could bring in as much as USD3 billion for the Indian company, which will use the majority of the proceeds to reduce its debt. Helios Towers Africa, HIS Towers, American Tower Corporation (ATC) and Eaton Towers have reportedly been shortlisted as potential buyers to take over the Airtel’s tower infrastructure. Airtel’s African operations span some 17 countries on the continent and encompass a range of different regulatory environments. According to the paper’s unnamed sources, the diverse nature of Airtel’s African footprint has made the sale of the entire tower portfolio to a single buyer problematic.
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