Airtel granted regulatory approval to acquire Millicom's Rwanda operations

ANI | Updated: Jan 24, 2018 17:08 IST

New Delhi [India], Jan 24 (ANI): Telecom giant Bharti Airtel Ltd. on Wednesday received an approval for the acquisition of Tigo Rwanda Limited (Tigo Rwanda), a subsidiary of Millicom International Cellular S.A. (Millicom) from the Rwanda Utilities Regulatory Authority (RURA).

The merged entity will have the largest customer base in Rwanda with 5.9 million subscribers. The combined networks of the two companies will serve customers with voice or data services, global roaming and mobile banking services. It will also have Rwanda's largest sales and distribution network.

The merger will result in the only negative EBITDA OpCo joining other 13 positive EBITDA OpCos in Africa.

On completion, the acquisition will undergo seamless integration, both on the customer as well as the network side and further strengthen Airtel's market position in Rwanda.

In December last year, Airtel had entered into a definitive agreement with Millicom, under which under which Airtel Rwanda Limited would acquire 100 percent equity interest in Tigo Rwanda Limited.

Furthermore, existing Millicom Rwanda customers were to join over 370 million customers on Airtel's global network across 17 countries.

Globally, Airtel is ranked as the third largest mobile services provider in terms of customer base. (ANI)