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Airtel sells 4800 towers in Nigeria for $1.05bn

Sunil Mittal-promoted Bharti Airtel signed the deal with ATC through its international arm, Bharti Airtel International (Netherlands) BV.“Airtel will be the anchor tenant on the…

Sunil Mittal-promoted Bharti Airtel signed the deal with ATC through its international arm, Bharti Airtel International (Netherlands) BV.
“Airtel will be the anchor tenant on the portfolio under a lease with a 10-year initial term,” the two companies said in a joint statement issued on Monday.
“Total consideration is expected to be approximately $1.05 billion, subject to customary adjustments,” ATC said separately in its US regulatory filing, adding that it expected the acquisition to close in the first half next year, subject to regulatory and other conditions.

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