Bharti Airtel up on sale of Nigeria phone masts

Reuters Market Eye - Bharti Airtel shares gain 1.5 percent.

American Tower Corp to buy Bharti Nigeria phone masts for $1.1 billion.

American Tower said in a separate filing it expected the deal value to be about $1.05 billion, subject to adjustment.

Divestment of towers could fetch $1.8-$2 billion, which could help Bharti bring down its debt and reduce capex burden, says Macquarie.

(Reporting by Abhishek Vishnoi)