iWorld

Bharti Airtel to acquire Millicom’s Rwanda operations

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2017/12/19/sunil_1.jpg?itok=vbgE-cXa

MUMBAI: Telecommunications services provider Bharti Airtel Limited, through its subsidiary Airtel Rwanda, has entered into a definitive  agreement with Millicom  International  Cellular S.A. to acquire 100 per cent equity interest in Tigo Rwanda.

The acquisition will consolidate the Rwandan telecom market and position  Airtel as a strong operator  in Rwanda.  The acquisition cost is approximately six times EBITDA multiple payable  over  two years.

Bharti  Airtel  chairman Sunil  Bharti  Mittal said, "Airtel   has  taken  proactive   steps  in  Africa  to consolidate and  realign  the market  structure in the last few remaining  countries where  its operations are lagging on account of lower market share and presence of too many operators. Airtel and Tigo have already merged their operations to create a strong viable entity in Ghana. Today, it has taken yet another  important step to acquire  Tigo Rwanda  to become a profitable and a strong challenger in a two-player market.”

Mittal added that Airtel Africa was committed to the long-term viability of the operations in Kenya  and Tanzania to ensure that in 2018 all its 15 operations in Africa started contributing positive  margins and cash flows towards a healthy and profitable Airtel Africa.

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 and affordable voice and data services. The existing customers of Tigo Rwanda will join Airtel's global network, which currently serves over 370 million customers across 17 countries.

Airtel Africa MD and CEO Raghunath Mandava said, "The acquisition reinforces our commitment to the Rwanda market and is a significant step towards creating a stronger presence in the country. It will create synergies with  our  existing  business and  help  boost  operational efficiencies in the  market.  The Rwandan  telecom  market  will significantly benefit  from this acquisition, further  reiterating our stand that in-market  consolidations do  not just  help  achieve better  market  positions  but  benefit  customers and  the industry  as a whole."

Also read:

Airtel TV valuation at $1.75 bn as Warburg Pincus picks up 20% stake

Airtel acquires strategic stake in Juggernaut Books

Airtel Digital TV revenues, op profits rise in Q2 FY 2018

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/10/27/ankhi-das.jpg?itok=Rg3JKpsk
Facebook India's head of public policy Ankhi Das steps down

NEW DELHI: Facebook India’s head of public policy Ankhi Das has moved on from her current role. She was with the organisation for over nine years and was a core team member.

iWorld Social Media
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/10/27/airtle_0.jpg?itok=c4s9Jmnc
Bharti Airtel revenues jump 22 per cent in Q2

NEW DELHI: Telecom operator Bharti Airtel announced its highest ever consolidated quarterly revenue, reporting a 22 per cent jump driven by higher tariffs and a rise in data usage from a Covid2019-fuelled shift to remote working.  India revenues for the quarter ended 30 September was at Rs 18,747...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/10/27/ira.jpg?itok=KL_USAuK
Iravati Damle joins Zoom to lead public policy in India

MUMBAI: Zoom has hired Iravati Damle as head of public policy in India. In her new role, she will lead policy strategy, government affairs and advocacy for India. Damle will be reporting to Jonathan Kallmer, head of global public policy and government relations at Zoom. She will be based out of...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/10/26/idma.jpg?itok=s3JtL-fI
Digital media outlets launch self-regulatory body IDMA

MUMBAI: Digital media news outlets have launched a self-regulatory body, Indian Digital Media Association (IDMA) - a pro-nation, Indian-owned, Indian-edited and Indian-controlled digital news association. In a first, digital platforms have come together and formed an association that is aimed to...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/10/24/par.jpg?itok=pVTu3lbO
Parliament panel issues summons to Google, Paytm on data privacy

MUMBAI: Google and Paytm have been directed to appear before a joint parliamentary committee on 29 October on the issue of data protection and privacy. Social media platforms Facebook and Twitter have also been called in to provide oral evidence. Meanwhile, e-commerce giant Amazon has refused to...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/10/23/zee5.jpg?itok=KZ1qgJSx
ZEE5 Global named ‘Digital Content and Streaming Service of the Year’ at the 2020 Telecoms World Middle East Awards for 2nd consecutive year

ZEE5 Global, the largest and most comprehensive digital entertainment platform for Indian content, has won the ‘Digital Content and Streaming Service of the Year’ award for 2020 at the Telecoms World Middle East Awards for the second consecutive year.

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/10/23/queen.jpg?itok=QwPHHznt
MX Player wins big at 2020 Asian Academy Creative Awards

MUMBAI: Streaming platform MX Player has won big at the 2020 Asian Academy Creative Awards. Its original web series Queen, starring Ramya Krishnan, bagged the best original program by OTT, while Times of Music brought home the trophy for best music/dance program.

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/10/23/v.jpg?itok=uH6xibtV
Tom Ryan takes charge as ViacomCBS Streaming president & CEO

MUMBAI: ViacomCBS has restructured its global leadership, with the biggest change-up coming in the form of Pluto TV CEO Tom Ryan being appointed president and CEO of Streaming. In his new role, Ryan will overlook CBS All Access, which will relaunch as Paramount+ in early 2021. He will continue to...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/10/23/bimal.jpg?itok=GpeMIGDo
FIFS names Bimal Julka as new chairman

MUMBAI: The Federation of Indian Fantasy Sports (FIFS) has appointed Bimal Julka as chairman. In his new role, Julka will work closely with all stakeholders to further strengthen the operating standards of the Indian fantasy sports industry. Julka takes over from John Loffhagen, who served as...

iWorld Over The Top Services

Sign up for our Newsletter

subscribe for latest stories

* indicates required