Telecom major Bharti Airtel is looking at ways to hive off its South Asian towers business. The company is likely to sell about 70-80 percent in the tower arm.
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The stake sale talks have gained momentum after interest shown by prospective buyers. Among the companies that have displayed interest in the business are American Tower Corporation (ATC), PE firm Carlyle and Blackstone.
Bharti’s South Asia business includes Bangladesh and Sri Lanka geographies and it is currently valued at USD 400 million.
Sri Lanka has about 2800 towers and Bangladesh has 4000 towers, of which 70-80 percent is likely to be hived off. This is a part of the company’s monetization move but the company refrained from giving any official statement saying it cannot comment on market speculation as per policy.
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