
Today wednesday Orange and Bharti Airtel International signed a deal that will allow Orange's acquisition of Airtel's operations in Burkina Faso and Sierra Leone in a strategy to invest in emerging markets.This comes a day after agreeing to buy Cellcom in Liberia.Orange will acquire 100% stake in the two companies share capital.Orange and Bharti Airtel first disclosed they were holding deal talks in July 2015,at the time,Orange said it was exploring the possibility of acquiring Airtel's operations in Chad and Congo Brazzaville,in addition to Burkina Faso and Sierra Leone.No purchase price was given but Orange said it would be around eight times both companies annual operating profits before taxes and charges.The deal still subject to regulatory approval,will add 5.5 million mobile phone customers to Orange's portfolio.It will also raise Orange's presence in Africa to 20 countries.One more photo below.
Comments
Post a Comment