Airtel and Millicom merger sealed in Ghana

20 October 2017

Mergers, Acquisitions and Financial Results

The deal is closed for Bharti Airtel and Millicom International Cellular to become the second largest operator with 10 million mobile subscribers in Ghana. The companies have made an official announcement to merge their telecom operations. The merger will be a 50:50 stake and the governance rights of the new entity will generate revenues of around US$300 million.

The current CEO of Tigo Ghana, Roshi Motman, will soon be the CEO of the joint venture. The venture will be treated as a strategic asset and both brands will be operated equally. The Ghana National Communications Authority (NCA) approved of the merger proposal. The new entity will combine the networks of of both Airtel and Tigo Ghana and will cover more than 80 percent Ghana’s population, particularly villages and rural areas. The joint venture will, hence, benefit from one of the largest sales and distribution network for enhanced customer convenience.

Through an efficient delivery of superior customer experience, high speed data, innovative product mix and wider network coverage, the new combined business will challenge the market leader, improve the competitive dynamics of the telecoms sector and in the long term, strengthen the mobile ecosystem.

Source: NextvAfrica