12:00 AM, January 23, 2014 / LAST MODIFIED: 01:53 AM, March 08, 2015

Airtel to sell towers, says report

Airtel to sell towers, says report

Star Business Desk

Bharti Airtel has decided to sell its Bangladesh tower assets (Airtel Bangladesh Ltd) to raise $2 billion, the Times of India reported yesterday.
Bharti Airtel has put the company's Bangladesh tower assets on its divestiture list as the world's fourth largest mobile telephony firm seeks to raise more than $2 billion from selling its infra networks to bolster cash reserves, the report said.
“The Sunil Mittal-led Bharti has received offers from potential acquirers to sell its tower networks in Africa and Bangladesh in separate deals. Bharti's move to sell its 4,000-strong Bangladeshi tower network is a fresh development, while a deal involving its African towers has been a subject of some speculation,” according to the report.
However, when contacted, Shamit Shahabuddin, head of public relations department of Airtel Bangladesh, said, “The news was a speculation and as per company policy, we cannot comment on speculations.”
“The mobile operator expects at least $200 million from divesting its towers in Airtel Bangladesh," the Indian newspaper reported, quoting a source who did not wish to be named.


Leave your comments