Airtel inked a deal to sell more than 4,800 masts in Nigeria to American Tower, for an unspecified sum.
Under the terms of the agreement, Airtel will be the “anchor tenant” for the towers over a ten-year period. The acquisition is expected to close in the first half of 2015, subject to conditions and approvals.
In a statement, the companies said that the deal will enable the operator to “focus on its core business and customers”, while reducing its debt and cutting capital expenditure on passive infrastructure in the African market.
Jim Taiclet, CEO of American Tower, said: “With the largest population and economy in Africa and relatively underdeveloped wireless infrastructure, we view Nigeria as a tremendous growth opportunity.”
In September, Airtel announced a deal to sell 3,500 towers in six African markets to Eaton Towers, again with the operator signing a ten-year lease for the infrastructure.
And the deal comes shortly after American Tower inked a €900 million deal to acquire infrastructure in Brazil from Telecom Italia.