High debt and a tough operational environment have plagued Indian telecom operators for sometime now.
According to sources, Bharti Airtel has received expression of interest (EOI) to buy out its Africa tower business. Bharti Airtel has about 15,000 towers in Africa. "Helios, ATC, IHS and Eaton have submitted EOI to Bharti Airtel for its tower portfolio.
The EOI is for the complete tower portfolio as well as parts of the portfolio. It is unclear whether the buyers will be able to buy out the whole arm or just part of it;" said a source familiar with the development.
Also read: Airtel launches 3G services in Bangladesh
However, the valuation may just play spoilsport for the buyers. Sources say the Africa tower business has been valued at about $1.8bn (Rs 11,000 crore). So, even if part of the portfolio is sold off, it will assist Bharti Airtel in bringing down its debt substantially, which currently stands at about Rs 65,000 crore.
Neither individual tower companies nor Bharti Airtel commented to CNBC-TV18's queries.
Bharti Airtel was earlier said to be exploring options to demerge the tower assets in Africa and transfer it to the umbrella of Bharti Infratel .
"The street had been eyeing the possible movement of assets but if Bharti Airtel can sell the assets to a second player, it will bring in additional liquidity which will be a definite asset;" said an analyst tracking the company that did not wish to be named.
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