Airtel to sell its two African ops to Orange
France-based Orange and Bharti Airtel International (Netherlands) BV have entered into an agreement under which the French firm will acquire Airtel’s operations in Burkina Faso and Sierra Leone. This deal is part of Orange’s international development strategy to spread its wings to the emerging markets. Through this deal, Orange intends to reinforce its presence in Africa with two additional countries, adding almost 5.5 million customers to its mobile customer base. “This acquisition marks an important step forward in Orange’s dynamic growth strategy and will bring the group’s African footprint up to 20 countries in 2016,” Airtel said in a statement on Wednesday. “Under the deal, Orange will acquire 100% of the two companies’ share capital and these acquisitions will be implemented in partnership with Orange’s subsidiaries in the West African Côte d’Ivoire and Senegal regions,” the statement said. The deal comes after two firms agreed in July last year for the potential acquisition of Airtel’s operations in Burkina Faso, Sierra Leone, Chad and Congo Brazzaville. But the deals of the other two countries have lapsed. The consolidated revenue of the two companies accounts for around 275 million euros. With a total customer base of nearly 340 million across its operations at the end of September 2015, the Indian telecom service provider operates in around 20 countries across Asia and Africa.
January 13, 2015 | 3:39pm IST.
to success.