Maroc Telecom to acquire Tigo Chad from Millicom

15 March 2019

Mergers, Acquisitions and Financial Results

Maroc Telecom has signed an agreement with Millicom to acquire 100 percent of the shares of its subsidiary Tigo Chad. The acquisition aims to consolidate the presence of Maroc Telecom in Africa, while continuing Millicom's gradual exit from Africa to focus on Latin America.

The closing of the transaction is subject to certain conditions, including the approval by the Chadian authorities. No financial details were disclosed. Millicom said the sale would not have a material effect on the group.

After the sale, Millicom's only remaining market in Africa will be Tanzania. Maroc Telecom is already active in neighbouring Niger and Central African Republic.

Source: Telecompaper