On 21 March, Bharti Airtel announced they had reached a deal with American Tower Corporation to sell their 1,350 Tanzanian towers. The deal, which is expected to close in H1 FY16, had a purchase price of US$179mn, representing an average cost per tower of US$132.6k. Under the terms of the agreement, Airtel will be the anchor tenant on the towers with an initial ten-year lease, with the deal potentially to be expanded to include an additional 100 sites that are currently under development. The move is the latest in Airtel’s strategy to divest their assets across the continent and helps to bolster American Tower’s African portfolio, adding a fifth country to their footprint.
American Tower’s acquisition of Airtel’s Tanzanian Towers: TowerXchange deal analysis
