telecommunications operator, Airtel, has announced that it raised $1.3 billion from the sale of its mobile towers in five African countries.
Indian Telecommunications operator, Bharti Airtel said it had raised $1.3 billion from the sale of its mobile towers in five African countries from Helios Towers, IHS Plc and American Tower Company.
The proceeds will be used to reduce the $10 billion debt used in its African operations in 2010.
In February, Airtel said it completed the sale of some towers in Rwanda and Zambia to IHS, and America Tower just announced it completed the acquisition of Airtel towers in Nigeria.
Airtel said the deal will see Airtel mobile subscribers enjoy more stable networks, higher network uptimes in which to make calls and a more universal service across the country.