Airtel to sell and lease back 3500 towers to Eaton Towers
Bharti Airtel announced that the Company through its subsidiary company Bharti Airtel International (Netherlands) BV (Airtel) and Eaton Towers, a leading independent telecoms tower company in Africa, entered into an agreement for the divestment of over 3500 telecoms towers from Airtel to Eaton Towers.Under the agreement, Airtel will sell and lease back over 3500 towers to Eaton in 6 countries across its African operations under a 10-year contract.
The agreements will allow Airtel to focus on its core business and customers, enable it to deleverage through debt reduction, and will significantly reduce its on-going capital expenditure on passive infrastructure.
The agreements are subject to statutory and regulatory approvals in the respective countries.
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