Airtel Africa’s Malawi subsidiary to maintain equipment under lease
One of Africa’s largest telcos, Airtel Africa is disposing of its tower assets in Malawi as the company announced on Friday the first closing of the transaction to sell its telecommunications tower company in Malawi to Helios Towers plc.
Helios Towers is a leading independent telecommunications infrastructure company in Africa.
In a notice to investors, that was published on the Nigeria ExchangeGroup website and sighted by Nigeria Today, Airtel disclosed that “The gross consideration for the transaction will be $54.7m”.
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It explained that “Under the terms of the transaction, Airtel Africa’s subsidiary in Malawi will continue to develop, maintain and operate its equipment on the towers under separate lease arrangements, largely made in local currencies, with the purchaser”.