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The transaction is expected to close during the first half of 2016, a joint statement said on Monday.
Under the agreement, American Tower may acquire up to 100 additional sites currently in development for an additional consideration, while Airtel will be the anchor tenant on the portfolio under a lease with a ten-year initial term.
“We are extremely pleased to announce our entry into Tanzania and expand our partnership with Airtel,” said Hal Hess, an American Tower executive.
The tower sale agreements allow Airtel to focus on its core business and customers and significantly reducing the on-going capital expenditure on passive infrastructure, the statement said.
American Tower is a global owner, operator and developer of communications real estate.
The number of mobile phone subscribers in Tanzania rose by 24.9 percent in 2015 to 39.8 million, according to the country’s communication watchdog. Enditem
Source: Xinhua
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