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Airtel sells telecom towers in Zambia, Rwanda

Posted by admin, at 15 December 2014

NEW DELHI: Sunil Mittal-driven Bharti and IHS Holding, a mobile telecommunications infrastructure provider in Africa inked a deal under which IHS will acquire over 1100 telecoms towers across Zambia and Rwanda under a 10-year renewable contract. 

The agreements in two African countries are however subject to statutory and regulatory approvals. 

The pact will help Airtel to focus on its core business and customers, enable it to de-leverage through debt reduction, and will significantly reduce its on-going capital expenditure on passive infrastructure in two African markets, the telco in a statement said Monday. 

The deal would facilitate IHS to expand its Africa tower footprint to over 21,000 towers across five countries. 

"This agreement will accelerate infrastructure sharing amongst operators and benefit customers in form of affordable tariffs and wider network coverage," Christian de Faria, MD & CEO - Africa, Bharti Airtel said. 

Issam Darwish, Executive Vice Chairman and Group CEO of HIS said that they have been engaged with Airtel for many years. 

"Our first buy and lease back transaction with Airtel is an opportunity to expand our East African business bringing IHS' market leading energy and infrastructure management practices to a wider market," Darwish added. 

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