First Closing of Tower Sale Transaction in Malawi

RNS Number : 9783F

Airtel Africa PLC

25 March 2022

 

Airtel Africa plc

('Airtel Africa', or the 'Group')

 First Closing of Tower Sale Transaction in Malawi

London and Lagos, 25 March 2022: Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces the first closing of the transaction to sell its telecommunications tower company in Malawi to Helios Towers plc, a leading independent telecommunications infrastructure company in Africa.

The gross consideration for the transaction will be $54.7m. 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.

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Enquiries

Airtel Africa - Investor Relations Pier Falcione Morten Singleton [e-mail]	[phone] [phone] [phone]
Hudson Sandler Nick Lyon Bertie Berger [e-mail]	[phone]

About Airtel Africa

Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.

Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally.

The Group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.

www.airtel.africa

 

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