Airtel closes tower sale in Africa

Bharti Airtel on Tuesday said it has completed the sale of 8,300 towers in Africa worth $1.7 billion (around ₹11,000 crore). The company had announced the deal in July this year. The company had said the deal will be used for reducing debt. “As on date, we have completed the sale transactions in seven countries, for approximately 8,300 towers representing close to 60 per cent of the total tower base. The agreements have lapsed in four countries, while the process is on in the remaining two,” it said. The company has around 14,000 mobile towers in Africa. Net debt was ₹68,134 crore, as of June.