Lagos - To reduce its debt burden, Bharti Airtel is planning to sell its $1.8 billion-valued Africa tower business.
The Indian telecommunications company incurred most of its debt from the $10.7 billion acquisition of Zain Telecom’s Africa business in 2010, reports Business Standard.
The company has received offers from four companies- Helios, ATC, Eaton and HIS, to buy the tower business.
It is unclear whether Airtel plans to sell the whole arm of the tower business or just part of it. The offers received are for the complete tower portfolio.
Bharti Airtel owns about 15 000 towers in Africa.
Read more at Business Standard