One of Nigeria’s major telecoms companies Airtel has signed a definitive agreement with American Tower Corporation (ATC) for the acquisition of the teleco’s towers in Nigeria.
According to a statement, ATC would pay about USD1.05 billion for Airtel’s 4,800 towers in Nigeria.
“Airtel will be the anchor tenant on the portfolio under a lease with a 10-year initial term,” the two companies said in a joint statement.
Airtel said the sale would allow it “to focus on its core business and customers, and enable it to de-leverage through debt reduction.”
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