Telecom giant Bharti Airtel has completed 60 percent divestment of tower assets in African operation, the company announced on Tuesday.
"We are pleased to inform that as on date we have completed the sale transactions in seven countries for approximately 8,300 towers, representing close to 60 percent of the total tower base," the comany said in a statement.
The company earned $1.7 billion from the concluded transactions in the seven countries and plans to use the proceeds for reducing debts, the statement added.
Bharti Airtel highlighted that tower sales and lease back will continue to be a strategic priority for the company in its African operations.
It plans to dispose all the remaining towers.