Discussions are far advanced towards the acquisition of 100% shares of Airtel Ghana Limited by the government of Ghana.
This was revealed in a statement the company sent to the Bombay Stock Exchange in India on Tuesday evening [October 27, 2020].
The proposed deal would result in the government of Ghana acquiring 100% shares of Airtel Ghana Limited, also known as AirtelTigo, along with all its customers, assets and agreed liabilities.
AirtelTigo is a joint venture between ‘Airtel’ and ‘Millicom’ wherein Airtel holds a non-controlling 49.95% share in AirtelTigo.
Airtel had merged its Ghana operations with Millicom in 2017, resulting in the second largest mobile carrier in Ghana.
The merger was approved by the regulator subject to the condition that the Ghana government will have the option to pick up a stake in the new entity in future.
But the joint venture has fallen behind MTN and Vodafone in Ghana.
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