Airtel Africa Sells Tower Portfolio in Tanzania for About $175m

 In news

Airtel Africa sells Airtel Tanzania’s tower portfolio to a joint venture owned by a subsidiary of SBA Communications Corporation as majority owner and by Paradigm Infrastructure Limited, according to a statement.

* About $157.5m is payable on the first closing date which is expected to take place in 2H of the group’s current FY
** Balance is payable in installments upon the completion of the transfer of any remaining towers to the purchaser
* Around $60m from the proceeds will be used to invest in network and sales infrastructure in Tanzania and for distribution to the government of Tanzania
** Balance of the proceeds will be used to reduce debt at group level

Source: Bloomberg

Recent Posts
Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Not readable? Change text.

Start typing and press Enter to search