Bharti Airtel Halts Sale of Base Stations to Helios Towers

Airtel- image source, itnewsafrica

Airtel- image source, itnewsafrica

BHARTI Airtel, India telecommunications giant with operational bases in 17 African countries said that it will discontinue the sale of its towers in Tanzania and Chad to Helios Towers Africa (HTA).

Airtel boosts of over 68.3 million subscribers on the African continent.

Airtel had signed a deal to sell about 3,100 telecoms towers in four African countries to Helios Towers.

Helios Towers, an independent telecommunications towers company, on the other hand had announced that it raised $630 million from investors to help buy the telecoms towers, Airtel seemed less concerned, as it has stamped not to go ahead with transactions.

It was noted that part of the money raised Helios Tower was meant to cement the Airtel transaction and then part of it used for other transactions.

Airtel is reportedly seeking to sell 15,000 African towers with sources saying that the telco could raise up to $2 billion in total from African tower sales.

And Helios Towers said the purchase of the Airtel towers would expand its tower count in Africa to more than 7,800.

But, in a stock market statement, last week, Airtel noted that plans had lapsed and therefore terminated.

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