Orange completes acquisition of Airtel’s operation in Sierra Leone
- Orange has been pursuing a strategic plan to increase its operations in Africa, which has the fastest growing telecoms sector in the world.
Orange has completed the acquisition of 100 percent stake in Bharti Airtel’s mobile operation in Sierra Leone, according to a statement released on Tuesday.
The French telecoms giant said the acquisition is based on a deal signed with Bharti Airtel in January this year to acquire the Indian company’s operation in Sierra Leone and Burkina Faso. That deal is estimated to be worth about $900 million.
“We are pleased to announce that the acquisition of the mobile operator Airtel in Sierra Leone has been finalized,” said Bruno Mettling, Orange’s Deputy CEO and Chairman & CEO of Orange Middle East and Africa.
Airtel has been the leading mobile operator in Sierra Leone with over 1.3 million customers in a country of about 6.3 million people. The company already offers good coverage in Freetown and other major towns in Sierra Leone, with plans to expand its 3G network to provide Internet access to customers living outside the urban areas.
“This new acquisition, which will be consolidated by Sonatel, will further strengthen Orange’s strategic position on the African continent,” Mettling said.
Orange has been pursuing a strategic plan to increase its operations in Africa, which has the fastest growing telecoms sector in the world. In 2016 alone, the total acquisitions of Orange across the African continent is over $1 billion. The French telecoms giant has operations in over 20 African countries, including Cameroon, Ivory Coast, Mali, Tunisia, Kenya, Egypt, Niger, Liberia, Burkina Faso, DRC, and Sierra Leone.
Most Popular News
- UN chief makes recommendations for reopening schools
- FCMB Group grows profit before tax by 26% to N11.1 billion in H1 2020
- Reserves managers are beginning to address ESG - Survey
- Orange launches digital bank to expand financial services in West Africa
- South Africa secures approval for $4.3 billion IMF loan
- Dangote Cement grows half-year profit by 5.8 per cent to N126 billon