Congo deal may bode well for Bharti Airtel

Bharti Airtel’s arm Bharti Airtel International (Netherlands) BV has signed a pact with Helios Towers Africa to sell 950 towers in the Democratic Republic of Congo. The deal will help the company cut debt and capital expenditure. The agreement also covers those towers that are under construction, Bharti Airtel said in a post-market-hours disclosure. It did not disclose the financial details of the agreement. Shares may react positively to the development.