Orange announced it will acquire 100% of the two companies’ share capital in a move to reinforce its presence in Africa with two additional countries, adding almost 5.5 million customers to its mobile customer base and bringing the Group’s African footprint up to 20 countries in 2016.
The talks for this acquisitions began July last year and Airtel was ready to sell its operations in Burkina Faso, Sierra Leone, Chad and Congo Brazzaville.
These acquisitions, according to Airtel, will be implemented in partnership with Orange’s subsidiaries in the Cote d’Ivoire and Senegal.
The outlay for these transactions will be based on the financials of Airtel’s two subsidiaries for the year 2016 and the completion of these transactions remains subject to approval by the competent authorities.
Agreement have been signed initially between Airtel and Orange in July 2015 regarding the potential acquisition of Airtel’s operations in Burkina Faso, Sierra Leone, Chad and Congo Brazzaville but, the agreements lapsed.
With Airtel merger, Orange will reinforce its presence in Africa in two additional markets, adding nearly 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.