Wednesday, September 30

Eaton acquires 1,000 Airtel Kenya towers in $186 million deal

Sources from Kenya suggest that Bhati Airtel is about offloading the vast majority of its network towers to Eaton Towers. The East African Weekly reports that Eaton has agreed to acquire 1,100 Airtel towers scattered around the East African country in a $186 million buyout.

The deal was part of a September 2014-signed agreement where Airtel arranged to sell 3,500 towers across Kenya, Rwanda, Ghana, Uganda, Zambia and Tanzania.

The network operator Airtel has lost its foothold in the region and said it will use revenue generated from the transaction in settling the company’s widening debt margins.

Airtel Africa executive director Christophe Soulet explained that the rapid currency depreciation in the Southern, Western and Eastern Africa has badly affected the company’s financials in the regions. He assured that the asset overhaul will play a fundamental role into restructuring and repositioning Airtel in the nearest future.

 

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