Bharti Airtel and Millicom International Cellular S.A. (Millicom), through their respective subsidiaries, have concluded the deal to combine their operations in Ghana. Under the joint agreement, Airtel and Millicom will have equal ownership (50:50) and governance rights in the combined entity, which will have revenues of approximately $300 million.
Both Airtel and Millicom will have Board representations and Management positions in the merged entity. The Ghana National Communications Authority (NCA) granted approval for the merger proposal early this month.
The merged entity will become Ghana’s second largest mobile operator with close to 10 million subscribers. The combined networks of the two companies will cover more than 80% of Ghana’s population. It will also have one of the largest sales and distribution network to enhance customer convenience.
Bharti Airtel is a leading global telecommunications company with operations in 17 countries across Asia and Africa.
