Airtel agrees to sell 4,800 Nigerian towers to American Tower Corporation

American Tower Corporation and Airtel have entered into a definitive agreement for the sale of over 4,800 of Airtel’s communications towers in Nigeria.

Airtel will be the anchor tenant on the portfolio under a lease with a ten-year initial term. The agreement will allow Airtel to focus on its core business and customers, enable it to deleverage through debt reduction and will significantly reduce its on-going capital expenditures on passive infrastructure in Nigeria.

Read more: Airtel agrees to sell Nigeria towers to ATC – Telecompaper.