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Bharti Airtel inks agreement to acquire Millicom’s operations in Rwanda

19 Dec 2017 Evaluate

Bharti Airtel through its subsidiaries has entered into a definitive agreement with Millicom International Cellular S.A. (Millicom) under which Airtel Rwanda will acquire 100% equity interest in Tigo Rwanda. The acquisition will consolidate the Rwandan telecom market and position Airtel as a strong number 2 operator in Rwanda. The consideration for the transaction is based on approximately 6x EBITDA multiple, payable over two years. The agreement is subject to regulatory and statutory approvals.

The agreement aims to bring together the strengths of Airtel and Millicom in Rwanda and offer benefits to customers in the form of a wider network, affordable voice and data services, and superior customer care. The existing customers of Tigo Rwanda will join Airtel’s global network, which currently serves over 370 million customers across 17 countries. They will enjoy, amongst other things, benefits of the ‘One Airtel’ network with lower roaming rates across Africa and South Asia, an exciting bouquet of innovative services including Airtel Money.

Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.


Bharti Airtel Share Price

1845.05 -1.50 (-0.08%)
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