Airtel scraps tower sale deals in Tanzania, Chad

18 Jun 2015

Bharti Airtel has terminated agreements to sell its tower assets in Tanzania and Chad to Helios Towers Africa, the Indian-based group noted in a statement to the Bombay Stock Exchange. No reason was the given for the decision, although an unnamed source familiar with the deal was quoted by The Economic Times as saying that certain conditions of the sale ‘couldn’t be tied up within a time frame.’ The agreements in Chad and Tanzania were part of a larger deal announced in July last year to offload 3,100 towers in four African markets – the other two being the Republic of Congo and the Democratic Republic of Congo (DRC) – to the passive infrastructure firm. The Congo (Brazzaville) and DRC arms of the transaction are unaffected by the Airtel’s announcement, and are due to go ahead as planned, the source added.

Chad, India, Tanzania, Airtel Chad, Airtel Tanzania, Bharti Airtel