Telecom operator Bharti Airtel said it has received regulatory approval to acquire Tigo Rwanda — a subsidiary of Luxembourg based Millicom International Cellular. With this acquisition, Airtel Rwanda operations will become EBIDTA positive (operationally profit), making whole of Airtel’s Africa business profitable at the operations level. Also Read - Reliance Jio vs Airtel prepaid plans hiked: Here’s how much you will need to pay to get 2GB data per day
“Bharti Airtel Limited…has received an approval for the acquisition of Tigo Rwanda Limited, a subsidiary of Millicom International Cellular SA from the Rwanda Utilities Regulatory Authority (RURA),” the company said in a statement. Also Read - Airtel offering free 4GB data coupons with select plans, after price hike
The merged entity will have the largest customer base in Rwanda with 5.9 million subscribers, the statement said. “The merger will result in the only negative ebitda OpCo joining other 13 positive ebitda OpCos in Africa,” the statement said. Also Read - Airtel uses Nokia equipment to successfully conduct first 5G trial in Eastern India
The combined networks of the two companies will serve customers with voice and data services, global roaming and mobile banking services and also have Rwanda’s largest sales and distribution network. Airtel has operations across 16 countries, which include 14 in Africa. The company had close to 84 million customers at the end of quarter ended December 30, 2017, the statement said.
This is published unedited from the PTI feed.