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Bharti Airtel on Wednesday said its agreement with Helios Towers Africa (HTA) for sale of tower assets in Tanzania and Tchad signed last year has been terminated.
In July last year, the company had announced that it would divest 3,100 telecom tower assets to Helios Towers Africa for sale in four countries including Democratic Republic of Congo, Republic of Congo, Tchad and Tanzania. The divestment would expand HTA’s tower coverage in Africa to over 7,800 owned towers.
ALSO READ: Bharti Airtel raises Rs 1,925 cr from stake sale in tower unit
Both decided to terminate the deal in Tanzania and Tchad which had around 800 towers, while the deal for Democratic Republic of Congo and Republic of Congo remain.
The deal was subject to statutory and regulatory approvals in the respective countries.
“The agreements for sale of tower assets in Tanzania and Tchad between the respective subsidiaries of Bharti Airtel Limited and Helios Towers Africa have lapsed and therefore stands terminated,” Bharti said in a notice to the Bombay Stock Exchange.
In July last year, the company had announced that it would divest 3,100 telecom tower assets to Helios Towers Africa for sale in four countries including Democratic Republic of Congo, Republic of Congo, Tchad and Tanzania. The divestment would expand HTA’s tower coverage in Africa to over 7,800 owned towers.
ALSO READ: Bharti Airtel raises Rs 1,925 cr from stake sale in tower unit
Both decided to terminate the deal in Tanzania and Tchad which had around 800 towers, while the deal for Democratic Republic of Congo and Republic of Congo remain.
The deal was subject to statutory and regulatory approvals in the respective countries.
“The agreements for sale of tower assets in Tanzania and Tchad between the respective subsidiaries of Bharti Airtel Limited and Helios Towers Africa have lapsed and therefore stands terminated,” Bharti said in a notice to the Bombay Stock Exchange.
