IHS Holding has concluded a deal to acquire and lease back 949 towers from the Zambian subsidiary of India’s Bharti Airtel, according to Mobile World Live.
Last December TeleGeography reported that Airtel had inked an agreement which would see it divest a total of 1,100 telecoms towers in Rwanda and Zambia to IHS Holding, following which it would lease back the infrastructure under a ten-year renewable contract. At the time it was claimed that such a development would allow Airtel to ‘focus on its core business and customers, enable it to deleverage through debt reduction, and will significantly reduce its ongoing capital expenditure on passive infrastructure in these African markets’. For IHS, meanwhile, the acquisition represented what it termed ‘another major step towards the scale needed to provide shared telecoms infrastructure solutions in Africa’.
Having now concluded the Zambian element of the deal, Christian de Faria, managing director and CEO of Airtel Africa, was cited as saying: ‘The initiative in Zambia will help us deliver a reliable high quality network run by passive infrastructure experts, whilst reducing our CAPEX requirements and operating costs.’