Bharti Airtel Up 2% on Nigeria Tower Deal

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts
    Bharti Airtel Gains on Nigeria Tower Deal
    Bharti Airtel: Quotes, News
    BSE 313.00BSE Quote2.8 (0.89%)
    NSE 313.85NSE Quote3.95 (1.26%)
    Shares of the Bharti Airtel rose to 2% on Tuesday after the company 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, the company said in the statement.

    The agreement will allow Airtel to focus on its core business and customers, enable it to deleverage through debt reduction and will significantly reduce its on‐going capital expenditures on passive infrastructure in Nigeria.

    American Tower and Airtel expect to close the acquisition during the first half of 2015, subject to customary closingconditions and regulatory approval.

    Shares of the company were seen trading at Rs 403 up by 1.09% or 4.35 points on BSE at 11.30 am IST. It touched an intra-day high of Rs 408.20.

    Read more about: bharti airtel
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more