BUSINESS

Airtel Africa To Sell Tower Company In Malawi To Helios Towers For $54.7m

Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa has announced the first closing of the transaction to sell its telecommunications tower company in Malawi to Helios Towers plc, a leading independent telecommunications infrastructure company in Africa.

A notice at the Nigerian Exchange said the gross consideration for the transaction will be $54.7 million.

“Under the terms of the transaction, Airtel Africa’s subsidiary in Malawi 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 notice said.

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