Bharti Airtel puts Bangladeshi tower assets up for sale
22 January 2014 | Kavit Majithia
Indian operator Bharti Airtel has reportedly put its tower network in Bangladesh up for sale, and is seeking to raise over $2 billion from the sale of tower assets in a bid to raise cash reserves.
According to local reports, Airtel has received offers to sell its 4,000-strong Bangladeshi tower network, and any deal will be separate from the sale of its towers in Africa, which have been subject to speculation for some time.
The company expects to raise $200 million from divesting its Airtel Bangladesh tower network, after taking full control of its operations in the country last year, by buying out a 30% stake previously held by Warid Telecom.
The company is expecting to raise between $1.5 billion and $1.8 billion from its African tower assets, with sources claiming US and Middle Eastern tower management companies are bidding for the Bangladeshi and African assets.
According to the Economic Times of India, Airtel is aiming to bolster its cash position, given India’s impending spectrum auction, with the company up against Vodafone and Reliance Jio to renew airwaves in the 900MHz band.
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