Bharti Airtel inks pact with American Tower for Nigeria tower sale

American Tower Corporation and Bharti Airtel have entered into a definitive agreement, through Bharti Airtel’s subsidiary company, Bharti Airtel International (Netherlands) BV (Airtel),  for the sale of over 4,800 of Airtel’s communications towers in Nigeria. Airtel will be the anchor tenant on the portfolio under a lease with a ten‐year initial term.  The agreement will allow Airtel to focus on its core business and customers, enable it to deleverage through debt reduction and will significantly reduce its on‐going capital expenditures on passive infrastructure in Nigeria. American Tower and Airtel expect to close the acquisition during the first half of 2015. Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.