Airtel’s Tanzania tower deal ‘worth $200m’, says Moody's
24 March 2016 | Alan Burkitt-Gray
Credit rating agency Moody’s is estimating that this week’s sale of 1,350 towers in Tanzania by Bharti Airtel is worth $200 million.
Indian owned Bharti Airtel agreed to sell its base station towers to American Tower, but did not put a price on the deal. Airtel will be the anchor tenant for the towers, and the deal may be extended by another 200 towers, said the operator.
The sale, which should be completed by the end of June, marks American Tower’s entry to Tanzania. American Tower’s Hal Hess, president for Europe, the Middle East and Africa, said: “With a young, growing population, tremendous growth potential and a complementary location relative to our existing African operations, we view Tanzania as a highly attractive adjacent market opportunity.”.