Bharti Airtel, owners of Airtel Nigeria, will make about $550 million when the company sells its mobile towers in Nigeria in April. Nigeria is the company’s biggest revenue generating market in Africa.
According to The Economic Times India, the company has less than 4,000 mobile towers in Nigeria. When contacted Airtel spokesperson said: “As a company policy, we do not comment on market speculation.”
On the overall, the company will make a total of $2 billion when it completes the sale of its mobile tower asset in Africa. The sale is needed for the company to pay off its huge debts.
Nigeria contributed about 30 per cent revenue to Airtel’s Africa business in its 2012 and 2013 fiscal year. Overall, the company had about 14,000 mobile towers in Africa across 17 countries at the end of March 2013.
The company has been making efforts to bring down its debt and financing costs related to it.
