New Delhi, Oct 27 (IANS) Bharti Airtel announced on Tuesday that it has sold off its telecom towers in the western African country of Burkina Faso to tower company, Eaton Towers.
Airtel has now concluded sale of about 9,000 telecom towers in eight African countries. Eaton Towers has acquired 2,500 towers from Airtel in four countries – Ghana, Uganda, Kenya and Burkina Faso.
In each of these four countries, Airtel has committed to a 10-year tenancy contract to Eaton Towers, a statement said.
“The tower sale agreements allow Airtel to focus on its core business and customers, to deleverage through debt reduction, and will significantly reduce its on-going capital expenditure on passive infrastructure,” it said.
“We are pleased to close this fourth transaction with Eaton Towers and we continue to explore other opportunities to work together. Airtel continues to sharpen its focus on its core business and delivering best in class experience to its customers in Africa,” said Bharti Airtel Africa’s CEO Christian De Faria.
“The successful conclusion of our transactions in four countries with Airtel, together with the deal to acquire 2000 towers from Mobinil in Egypt, will mean Eaton Towers will have over 6,000 towers and the most diversified tower portfolio across Africa,” said Eaton Towers CEO Terry Rhodes.