Airtel’s African tower sale is not a portfolio transaction
Africa’s #2 operator will consider breaking apart their portfolio of 15,000 towers country by country
TowerXchange has confirmed that Airtel is seeking third party buyers for an estimated 15,000 towers, representing all their towers in the 17 African countries in which Airtel operates. The transaction may not be a portfolio deal as Airtel is entertaining bids for towers in individual countries.
The move is believed to be motivated by Airtel’s desire to reduce debts of just under US$10bn, which is almost exactly the amount Airtel paid (US$10.7bn) to acquire Zain’s operations in Africa. Reports have attached a US$1.8bn price tag to Airtel’s towers, but this has not been confirmed by the operator.