The telecom group Airtel Africa is finalizing the sale of its Madagascar unit to Helios. The announcement was made this Wednesday, November 3, 2021.

Telecom group Airtel Africa PLC has announced that it has completed the sale of its telecommunications tower company to Helios Towers Plc. The cost of the transaction is estimated at $51.7 million. According to Airtel Africa, the proceeds of the transaction will be used to reduce the group's external debt and to invest in network and sales infrastructure in Madagascar. Under the terms of the transaction, the subsidiaries of the Airtel Africa group will continue to develop, maintain and operate their equipment on the towers under separate lease agreements, largely in local currencies, with the Purchaser. The company also revealed that it had entered into "an exclusive memorandum of understanding" on the possibility of divesting its tower assets in other African countries such as Chad and Gabon.