Airtel Africa plc
("Airtel Africa", or the "Group")
First Closing of Tower Sale Transaction in Madagascar
London and Lagos, 3 November 2021: Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces the first closing of the transaction to sell its telecommunications tower company in Madagascar to Helios Towers plc, a leading independent telecommunications infrastructure company in Africa.
The gross consideration for the transaction will be $51.7m. Under the terms of the transaction, the Group's Airtel Africa's subsidiary will continue to develop, maintain and operate its equipment on the towers under separate lease arrangements, largely made in local currencies, with the purchaser.
The proceeds from the transaction will be used to reduce Group external debt and to invest in network and sales infrastructure in Madagascar.
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Enquiries
Airtel Africa - Investor Relations Pier Falcione Morten Singleton |
+44 207 493 9315 |
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Hudson Sandler Nick Lyon Bertie Berger |
+44 207 796 4133 |
About Airtel Africa
Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.
Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally.
The Group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.
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