New Delhi : Bharti Airtel sold over 1,100 telecom towers in Zambia and Rwanda to IHS Holding at an estimated USD 180-200 million to pare debt. As part of the 10-year renewable contract, Airtel will lease back the towers from IHS, reports PTI.

The agreements will allow Airtel to focus on its core business and customers, enable it to deleverage through debt reduction, and will significantly reduce its on-going capital expenditure on passive infrastructure in these African markets.

“This agreement will accelerate infrastructure sharing amongst operators and benefit customers in form of affordable tariffs and wider network coverage,” Bharti Airtel Africa MD and CEO Christian de Faria said.

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