Eaton mess: Airtel/Eaton leaseback deal collapses

16 Oct 2015

A sale and leaseback deal between Bharti Airtel and Eaton Towers covering 3,500 towers across six nations has fallen through, the Economic Times writes, citing a regulatory filing. In the statement, Airtel explained that the agreement – which had been signed in September last year – had lapsed, and as such had been terminated. No reason for the delay and subsequent lapse were given, however. The deal would have allowed Airtel to focus on its core business and reduce capital expenditure on passive infrastructure, whilst Eaton would have expanded its footrprint from three countries (Uganda, Ghana and South Africa) to seven and would have bolstered its tower holdings to more than 5,000 towers.

India, Bharti Airtel, Eaton Towers