Telecommunications firm, Airtel Africa, has struck deals with Helios Towers for the sale of its towers in Madagascar and Malawi for a combined $108 million, alongside agreeing on exclusive negotiations over similar assets in two other markets.
The operator noted that the two sealed deals were standalone transactions, which are expected to close in Q4 subject to regulatory approval. As is common in tower agreements, the seller agreed to lease back access to the sites.
The two contracts, according to a statement, cover a combined 1,299 towers but also include an obligation on Airtel Africa to build a further 195 sites across the two countries within three years of completion at a cost to Helios Towers of a further $11 million…
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