Airtel Africa likely to sell 1,424 towers to Helios for $ 119 mn

New Delhi: Airtel Africa will sell 1,424 towers in Madagascar and Malawi to Helios Towers for $119 million, Bharti Airtel said in a regulatory filing. The two companies have also entered into agreement for tower assets in Chad and Gabon but particulars of the deal were not disclosed.

"Airtel Africa today (on Tuesday) announces the signing of agreements to sell its telecommunications tower companies in Madagascar and Malawi to Helios Towers plc. "The Group's tower portfolios in these two markets together comprise 1,229 towers which form part of the Group's wireless telecommunications infrastructure network," the filing said. The transaction is expected to close in the last quarter of 2021. Airtel Africa has also signed a pact with Helios Towers for sale of additional 195 sites across Madagascar and Malawi over the three years following completion for $11 million.

"In addition, Airtel Africa has entered into exclusive memorandum of understanding agreements for the potential sale of its tower assets in Chad and Gabon to the purchaser (Helios Towers). "The proposed transactions are subject to the signing of definitive legal agreements for sale, including customary closing conditions," the filing said.