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=n4y0juvN

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/2020/07/07/planet.jpg?itok=0uEn2NtX
Planet Marathi to launch Marathi OTT Platform

KOLKATA: Passionate filmmaker and producer Akshay Bardapurkar of Planet Marathi, actor Pushkar Shrotri, and music composer Aditya Oak are all set to launch Planet Marathi OTT, India’s one and only platform that curates Marathi content, exclusively for Marathi audience.

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/07/voot.jpg?itok=I-lWiQ4R
Voot and Kailash Kher come together to present Nayii Udaan

KOLKATA: VOOT brings something new and exhilarating for its millions of consumers and partners with none other than the music veteran Kailash Kher absolutely LIVE. To rekindle the magic of Indian classical and folk music and give new talent a stage to spread their nascent wings, three years ago,...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/07/ser.jpg?itok=SY4PKRHN
Changing consumer behaviour as viewership spikes on ZEE5

The current Covid2019 pandemic and the nationwide lockdown has not just stalled industries and economic activity but has also contributed to the ongoing change in behavioural patterns in people, including that of digital consumption.

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/07/uday.jpg?itok=QiILPai5
Aim to get hundreds of millions of subscribers for Disney+ Hotstar: Uday Shankar

Disney+ Hotstar is not going to limit itself to sports and classic Disney+ library in India. While last year Hotstar went into original content, after its rebranding to Disney+ Hotstar, it is chasing a large audience also with direct-to-digital premiers of bollywood movies.

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/06/znap.jpg?itok=MMj3WkZ6
ZEE5 Global announces its latest partnership with Cashback App ZNAP

MUMBAI: ZEE5 Global has announced its partnership with cashback mobile app ZNAP in UAE. The application offers users a unique shopping experience with rewards and bonuses while sitting at home. The partnership will provide users a chance to earn cashback credit and a monthly subscription to premium...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/06/zee5.jpg?itok=grtGwXNF
ZEE5 records over 50% increase in WoW viewership

KOLKATA: During the lockdown, ZEE5, as India’s Entertainment Super-App has continued to entertain and engage diverse audiences by serving bespoke content across languages and a spectrum of devices. The platform’s popularity surged further as the week-on-week viewership soared by 52 per cent for all...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/06/sripriya.jpg?itok=eL13v_OX
It’s a match! Tinder and Pocket Aces team up to show how people are Dating In 2020 in the new format ‘FilterCopy Mini’

NEW DELHI: In a bid to constantly innovate, and cater to the changing content consumption habits of the audience, Pocket Aces’ short-form video channel, FilterCopy, has launched a new Instagram-first format called ‘FilterCopy Mini’ that will focus on telling short,  relatable stories in just under...

iWorld Social Media
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/06/Paytm.jpg?itok=dLdWmPW5
Paytm to acquire Raheja QBE General Insurance to expand financial services offerings

NEW DELHI: India's homegrown financial technology platform Paytm (owned by One 97 Communications Ltd) along with Vijay Shekhar Sharma is set to acquire Mumbai-based private sector general insurer Raheja QBE. The acquisition is subject to customary conditions, including, approval from the Insurance...

iWorld e-commerce
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/06/MN-Vyas.jpg?itok=4q0HG0qg
5G remote production: Need of the hour or call of the future

Broadcast to mobile is a fascinating concept which came into light in the early 2000s. The mobile networks were busy with offering GPRS based services. The early days saw a variety of mobile broadcast solutions including DVB-H, DMB, DAB-IP, ISDB-T and MediaFLO.

iWorld Telecom

Sign up for our Newsletter

subscribe for latest stories

* indicates required