Airtel reported to have acquired Rwandatel’s towers for US$15.5 million

Bharti Airtel’s African arm is reported to have bought the tower network infrastructure owned by Rwanda’s bankrupt Rwandatel.

Bharti Airtel paid US$15.5 million for the towers, according to local media reports, and will use them to boost its own network which is being built after it was awarded a licence last September. At the time, the company said that it planned to invest over US$100 million in the country over the next three years.

Rwandatel is having its assets sold after the company was put into liquidation by the courts last year. Before that, the regulator had cancelled its mobile operating licence for allegedly failing to meet its conditions.

The telecom company was partially owned by Libyan investment group – Lap Green – with an 80 per cent stake and the Social Security Fund of Rwanda (SSFR) which owned the remaining 20 per cent.