Bharti Airtel said it had raised $1.3 billion with the sale of its mobile towers in five African countries from Helios Towers, IHS Plc and American Tower Company. The proceeds will go towards reducing the $10 billion debt used in its African operations in 2010.
Last month, Airtel said a proposed deal with Helios Towers in Tanzania and Chad had expired without a final agreement. Airtel does still work with Helios in other countries. The India-based operator said it was negotiating similar deals with six other countries in Africa. Under the original agreement, Airtel said it would sell around 3,100 towers in four countries to Helios.