Sunil Mittal-led Bharti Airtel has raked in over $1.7 billion by divesting its tower assets in seven countries for around 8300 towers representing close to 60% of the total tower base, even though the agreements have lapsed in four countries while the process is on in the remaining two countries, the company said Tuesday.
The proceeds are being utilised for reducing the debt of the company.
The company said that tower sales and lease back will continue to remain a strategic priority for Airtel in all its operating countries across Africa and accordingly the balance towers will also be disposed over a period of time.
Bharti Airtel has around 14,000 mobile towers in Africa and has decided to exit the tower business.