Lagos - Bharti Airtel is advancing plans to sell off its telecom towers in Africa to pay off its huge debts.
The company is expected to generate about $550 million from the sales in Nigeria, reports ThisDay.
The sale, which is expected to be concluded in April, is in its advanced stage with Helios Towers Nigeria and IHS preparing bids for over 4 000 Airtel towers in Nigeria. Overall the company has about 14 000 mobile towers in 17 African countries.
Airtel Nigeria contributed about 30 percent revenue to Airtel's Africa business in its 2012 and 2013 fiscal year.
Read more at ThisDay