Telecom operator Bharti Airtel has sold its 4,800
mobile towers in Nigeria to US based American
Towers Company for about $1.05 billion
(roughly Rs. 6,500 crores) in a move to pare
debt. In a joint statement, Airtel and ATC announced
that they have entered into an 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, it
added. The agreement has been signed between Bharti Airtel subsidiary, Bharti Airtel International (Netherlands) BV (Airtel) and ATC. ATC in a statement said: "The total consideration
is expected to be approximately $1.05 billion
(roughly Rs. 6,500 crores), subject to customary
adjustments." "We are pleased to announce the launch of our
operations in Nigeria while expanding our
relationship with Airtel, one of the leading
multinational operators in the world," American
Tower President and Chief Executive Officer Jim
Taiclet said. At the end of September 2014, Airtel had a
consolidated debt of Rs. 62,215.8 crore. The deal is expected to be completed in the first
half of 2015. The Indian telecom major is looking
to sell off its mobile tower asset in Africa and
focus on telecom services business only. "Nigeria is the largest mobile market in Africa and
a key one for Airtel. This agreement, which is part
of our stated philosophy of promoting
infrastructure sharing, will provide us with
considerable cost efficiencies and at the same
time allows us to sharpen our focus on the customer," Bharti Airtel Africa MD and Chief
Executive Officer Christian de Faria said. Airtel initially had about 15,000 mobile towers
across. In September, Airtel sold about 3,500 telecom
towers in Africa to Eaton Towers

Wonder what the name will be this time around

I knew this will still happen anytime soon... need i say more? With their useless and sh*tty network

Them no dey tire to change name without any positive change in services??
I just tire for this pple Fa.

They can keep changing name for all I care......... I won't leave GLO BIS.

moneymaker24:
They can keep changing name for all I care......... I won't leave GLO BIS.

Airtel and their bad network...from Econet>Vmobile>Celtel>Zain>Airtel.....RUBBISH, they'll now use 9ja people money to rename

At last...slowly but surely they are creeping into Nigeria right before our very nose. US on the move. If you don't have eyes you won't see it.

well all alphabets used already and unavailable are
A B C E V Z

now left with alphabet like
D - Dullingnet
F - Foolconnect
G - Gushtel
H - Hiss.ng
L - Loosertel
M - moronet
et cetera

still gat some letters u can help them with like
I J KNOP Q R S T U W X Y

I'm waiting!

This just a business strategy and it the direction all telecoms company are moving globally. Focusing on services.

MTN and EMTS have sold their towers already.

DarqChild:
At last...slowly but surely they are creeping into Nigeria right before our very nose. US on the move. If you don't have eyes you won't see it.

When I saw your comment, I knew that there exists at least, a head in this thread.

Watch the towers riddled with bugs and spy-wares in no distant time.

SSS should step up their game if they can.

I don't think Airtel is selling off, they will only sell towers to ATC and become tenants on the towers.

Broke as.s airtel

Vmobile is techy for mi.....they shoud boro d name

stinggy:
I don't think Airtel is selling off, they will only sell towers to ATC and become tenants on the towers.

Na so, very soon, you see ATC claiming everything and Airtel Is ditched for good.

Get ready to be sighting mobile towers with all manners of gadgets cos this time around it will no longer be solely on telecommunications companies alone.

Demburrows:
.

why are u booking space dis early morning eh?

As long as it helps root-out the bad service..i'm cool with dat

parrotibaba:
why are u booking space dis early morning eh?

and your job this early morning is to go hunting for space bookers hun.

its a smart move on their path to reduce risks, plus they are the anchor clients for the next ten years. Empty Hen sold theirs a while back

With Edward Snowden's revelation and NSA scandal, I am worried about American Company purchase of cell phone towers might be a strategic interest in monitoring towers and eavesdropping on calls of citizens.

Rubbish network.

when r they changing their name again?

only if i get a dollar anytime this shitty network changes ownership i will be worth trillions of dollars by now.
if dem like let dem sell to t mobile,McDonald or France,i will never use their services.

Ok. Make I run go for www.ogavendor .com to know hw far naija today...

wincyhov:
only if i get a dollar anytime this shitty network changes ownership i will be worth trillions of dollars by now.
if dem like let dem sell to t mobile,McDonald or France,i will never use their services.

You need to shoot ur math teacher!

knockturnal:

You need to shoot ur math teacher!

no!u need to shoot ur weak brain for not being witty enough to get the joke.
piss off.
and don't ever quote me again

wincyhov:

no!u need to shoot ur weak brain for not being witty enough to get the joke.
piss off.
and don't ever quote me again

Or what? U need to shoot ur literature teacher also.

knockturnal:

Or what? U need to shoot ur literature teacher also.

yea right.
now move on

wincyhov:
only if i get a dollar anytime this shitty network changes ownership i will be worth trillions of dollars by now.
if dem like let dem sell to t mobile,McDonald or France,i will never use their services.

..

.. Econet>Vmobile>Celtel>Zain>Airtel..... $5,.

Trillions of dollars? "
I GIVE UP.