Airtel sells Nigerian towers to American Tower

American Tower is to acquire over 4,800 communications towers in Nigeria from Bharti Airtel.

The deal will see Airtel take tenancy of the towers for a minimum of ten years.

The move is aimed at enabling Airtel to focus on its core business and customers, while reducing its capex on passive infrastructure in Nigeria.

The deal is expected to close in the first half of 2015 and is dependent on regulatory approval.

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