Airtel considers sale of Bangladesh and Sri Lanka units
India’s Bharti Airtel is said to be considering selling its Bangladesh and Sri Lanka operations.
The company has reportedly hired two bankers to manage the sale, with plans to sell its tower and mobile business in both countries, according to the Business Standard.
Airtel has approximately 2,500 towers in Sri Lanka and 4,000 in Bangladesh. The operator is the smallest of five companies in Sri Lanka with a 9% market share. As the fourth largest of eight operators in Bangladesh, it has less than 7% market share.
Airtel has been in talks with Orange over the sale of its subsidiaries – Sierra Leone, Congo Brazzaville, Chad and Burkina Faso – in Africa. The two plan to complete by the end of 2015.
In July 2015, the operator revealed that it plans to reduce 20% of its workforce in Africa in 2015.