Airtel has stated that it has halted plans to sell its telecommunications base stations to Helios Towers as earlier agreed...
Bharti Airtel,India’s largest telecoms operator has halted plans to sell telecoms towers in Tanzania and Chad to Helios Towers Africa (HTA).
The telecoms firm had in July last year signed a deal to sell about 3,100 telecoms towers in four African countries to Helios Towers.
Helios Towers, an independent telecommunications towers company, had announced that it had raised $630 million from investors to help buy the telecoms towers with the intention that the money would be used for the Airtel transaction and then part of it used for other transactions. But a stock market statement from Airtel noted that plans had lapsed and therefore terminated.
The statement reads, "With reference to the Press Release dated July 09, 2014 regarding ‘’Airtel divests telecoms tower assets to Helios Towers Africa’’, Bharti Airtel has now informed BSE that the agreements for sale of tower assets in Tanzania and Chad between the respective subsidiaries of Bharti Airtel Limited and Helios Towers Africa have lapsed and therefore stands terminated.”