Bharti Airtel and Millicom announce deal closure

Bharti Airtel and Millicom announce deal closure

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Bharti Airtel Limited and Millicom International Cellular S.A., through their respective subsidiaries, announced the closure of 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 approx. USD 300 mn.

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 mnsubscribers.