Airtel states deal with Eaton Towers to sell its 3,500 telecom towers in Africa has lapsed
October 16, 2015
Bharti Airtel has stated that its deal to sell over 3,500 telecom towers in Africa to Eaton Towers has lapsed and stands terminated. The deal was announced earlier in September 2014.
Under the proposed deal, Airtel was to sell and lease back over 3,500 towers to Eaton in 6 countries across its African operations under a 10-year contract. The deal was to allow Airtel to focus on its core business and customers while enable to reduce its capital expenditure on passive infrastructure and its debt burden.
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