Airtel Africa sells tower units in Madagascar, Malawi to Helios for $108 million, to sell more in Chad, Gabon

Kolkata: Airtel Africa has sold its tower units in Madagascar and Malawi to Helios Towers Plc for around $108 million (Rs 783 crore approx) and inked separate pacts with the UK telecom infrastructure company for potential sale of its tower assets also in Chad and Gabon by end-FY22.

“The combined value of the tower asset deals across the four African markets is estimated at around $250 million (Rs 1,812 crore),” said a person with direct knowledge. The funds would be used to reduce Airtel Group debt and invest in network and sales infrastructure in the respective operating countries.