Airtel closes Warid takeover deal in Congo Brazzaville

Mergers, Acquisitions and Financial Results

Airtel Africa has completed its deal with Warid Telecom to buy its subsidiary in Congo Brazzaville, with the transaction successfully approved by the regulator, TMT Finance reported.

According to TMT Finance, the two parties had reached an agreement in November 2013 and were awaiting regulatory approval. The valuation is thought to be between USD 70 - 80 million, it said.