AIRTEL Africa has disclosed that its signed agreement with Helios Towers Plc for the potential sale of its tower assets in Chad have broken down.
Airtel Africa had, on March 23, 2021, entered into a memorandum of understanding with Helios Towers Plc, an independent telecoms infrastructure company in Africa, on the potential sale of its tower assets in Chad and Gabon to the latter.
In a regulatory filing by the Group Company Secretary for Airtel Africa Simon O’Hara to the Nigerian Exchange Group (NGX), the telco said both firms mutually agreed not to renew the memorandum for the tower sale.
“On 24 February 2022, the memorandum of understanding arrangement relating to
tower assets in Chad expired, and Airtel Africa and Helios Towers mutually agreed that this would not be renewed,” the statement read.
O’Hara, however, noted that both firms decided to extend their memorandum of understanding arrangement in Gabon, with completion still subject to Helios Towers obtaining a passive infrastructure licence.
“Airtel Africa will continue to provide further market updates as and when appropriate,” the company stated.
The statement came less than two months after the telco announced the sale of its tower assets in Tanzania to SBA Communications Corporation for $176.1 million.
Recent data by the Nigerian Bureau of Statistics (NBS) showed that Airtel Nigeria ended 2021 with 37.52 million active internet subscribers.