Airtel gets regulatory nod for Tigo Rwanda acquisition
24 Jan 2018 10:18 PM IST
New Delhi: Telecom operator Bharti Airtel on Wednesday said it has received regulatory approval to acquire Tigo Rwanda -- a subsidiary of Luxembourg based Millicom International Cellular.
With this acquisition, Airtel Rwanda operations will become EBIDTA positive (operationally profit), making whole of Airtel's Africa business profitable at the operations level.
"Bharti Airtel Limited...has received an approval for the acquisition of Tigo Rwanda Limited, a subsidiary of Millicom International Cellular SA from the Rwanda Utilities Regulatory Authority (RURA)," the company said in a statement.
The merged entity will have the largest customer base in Rwanda with 5.9 million subscribers, the statement said.
"The merger will result in the only negative ebitda OpCo joining other 13 positive ebitda OpCos in Africa," the statement said.
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