The Government of Ghana has reportedly acquired shares of Bharti Airtel, owners of AirtelTigo for $25 million.
The deal means Government will purchase 100% shares of Airtel Ghana Ltd which will include the acquisition of customers, assets, and agreed liabilities.
“The parties are in advance stages of discussions for the conclusion of the commercial agreement for the transfer of AirtelTigo on a going concern basis to the Government of Ghana,” Airtel said in a statement to the Bombay Stock Exchange on Wednesday.
- Manchester United hit by cyber attackManchester United have been hit by a “sophisticated” cyber attack. The club, who host West Bromwich Albion at … Read More
- Web App attacks sees 800% increases compared to 2019Web application attacks have increased by over 800%, according to the State of the Web Security for … Read More
- Elon Musk now world’s second-richest person ahead Bill GatesThe unrelenting rally of Tesla shares has rocketed the company’s founder Elon Musk up into second place in the global rich … Read More
- BNI is now NIB – National Intelligence BureauThe Bureau of National Investigations (BNI) has changed its name to the National Intelligence Bureau (NIB). This … Read More
- UK Scientist Invents Face Mask That Kills COVID-19, Influenza and other Viruses upon contactA Nottingham Trent University scientist, Garreth Cave has invented a face mask that can ‘‘kill viruses including COVID-19 and … Read More
AirtelTigo is a joint venture between Bharti Airtel and Millicom International Cellular, operators of Tigo in Ghana. The two merged in 2017, becoming the second-largest telecom operator in Ghana at the time.
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.
According to the quarterly results ending September 30, Airtel said its Ghana operations had a customer base of 5.1 million.