The government of Ghana has acquired shares of Bharti Airtel, in an impairment charge of about US$25million.
According to reports, the deal will enable the government to acquire 100% shares of Airtel Ghana Ltd. including the acquisition of customers, assets, and agreed liabilities.
“The parties are in advance stages of discussions for the conclusion of the commercial agreement for the transfer of AirtelTigo on a going concern basis to the Government of Ghana,” Airtel said in a statement to the Bombay Stock Exchange on Wednesday as reported by GraphicOnline.com.
AirtelTigo is a joint venture between Bharti Airtel and Millicom International Cellular, operators of Tigo in Ghana. The two merged in 2017, becoming the second-largest telecom operator in Ghana at the time.
The Network Operators have a customer base of approximately 10 million in Ghana. Airtel holds a non-controlling 49.95 percent stake in AirtelTigo.
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