Telecom
Bharti Airtel Targets $1Bn From Sale of Nigeria Towers
Bharti Airtel is expected to reach an agreement on the sale of its telecom towers in Nigeria for more than $1 billion within the next three weeks.
American Tower Company (ATC) is believed to be leading the race to buy the 4,000 towers, followed by IHS Towers, said a person aware of the status of talks.
economictimes.indiatimes.com reported that once the sale goes through, Bharti would have successfully sold almost half its towers in Africa.
“ATC is believed to have bid the highest amount,” said the person cited above. While ATC didn’t respond to ET’s query, IHS couldn’t be reached for comment. The proceeds of the sale will be used to retire a part of the company’s debt, which dropped to $9.6 billion at the end of the June quarter from $10.07 billion at the end of March.
Bharti’s net debt-to-EBITDA dropped to 2.04 from 2.20 between the two quarters. The development comes close on the heels of Bharti selling 3,100 towers in the continent in July.
Bharti had sold its 3,100 towers to Helios Tower Co, an independent tower operator backed by George Soros, Madeleine Albright and Jacob Rothschild, for an undisclosed amount.
While neither Bharti nor Helios disclosed the valuation of the transaction, a person aware of the details told ET that the Indian company had raised close to $800 million.
As Economic Times reported previously, Bharti is hoping to raise up to $3 billion through the sale of its African towers.
However, given the current valuation of tower companies in the continent, Bharti’s expectation is believed to be on the higher side. “Since buyers are (only) willing to cough up some more than $2 billion, negotiations are delaying the closure of the deal,” a person close to the development told Economic Times .
Bharti owns 15,000 telecom towers across 17 countries in Africa. It decided to sell them to independent tower companies after failing to create a joint venture tower company with other telecom operators.
This would have been along the lines of Indus Towers, a joint venture of Bharti, Vodafone and Idea Cellular in India.
Increasingly, telecom operators across Africa such as MTN are selling their towers to independent companies owing to the high costs of running the infrastructure in areas of low population density. These operators then lease the towers back from the buyers on a long-term basis.
The purchase makes business sense for tower companies such as ATC and Goldman Sachs-backed IHS, which are then able to rent them out to multiple telecom service providers.
With the introduction of Travel Saga, a premium, fast-paced gaming experience that is currently live and accessible to customers on its network, Globacom has lifted the bar for mobile entertainment in the country.
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SHELT, a leading cybersecurity-as-a-service provider, has earned inclusion in the 2025 MSSP 250, the annual ranking of the world’s top 250 Managed Security Service Providers (MSSPs) by MSSP Alert, a CyberRisk Alliance publication.
SHELT
The list evaluates firms on business performance, service breadth, and industry impact, spotlighting those excelling in growth, operational excellence, and advanced managed security amid rising cyber threats. Selection criteria include annual recurring revenue, profitability, workforce expansion, business growth, and the depth of managed security offerings.
SHELT’s recognition underscores its investments in scalable security operations, threat intelligence, and tailored managed services across multiple regions, enabling clients to navigate complex risk landscapes effectively.
“Being recognised in the MSSP 250 is a meaningful milestone for our team,” stated Youssef Abillama, CEO of SHELT. “It validates our focus on building practical, resilient security services that help organisations manage risk and respond effectively to today’s evolving cyber threats.”
The company hailed the honour as testament to its teams’ dedication and expertise worldwide, reaffirming commitment to enhancing capabilities and delivering trusted cybersecurity solutions.
Meta Platforms, owner of Facebook, has appointed Dina Powell McCormick, a former adviser to President Donald Trump, as its new president and vice chairman, bolstering its leadership amid aggressive AI and infrastructure expansion.
Dina Powell McCormick
The announcement, made on Monday, positions Powell McCormick – who recently stepped down from Meta’s board after eight months – to guide overall strategy, including multi-billion-dollar investments in data centres and global partnerships.
A Goldman Sachs veteran with 16 years in senior roles and prior stints as deputy national security adviser under Trump and in the Bush administration, she brings deep finance and international ties to the role.
Meta CEO Mark Zuckerberg hailed her as “uniquely qualified” for the company’s next growth phase, while President Trump praised the move on Truth Social as a “fantastic choice”.
The hire signals Meta’s efforts to strengthen White House relations, following recent dinners with Trump and U.S. investment pledges worth hundreds of billions
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