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Monday
December 2018
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News Headlines
1st Test: India in cruise control as Australia reduced to 104/4 chasing 323        Over 16000 runners take part in Pune Half Marathon        India's coal output up 10% to 156 MT during Apr-Nov        Iran arrests 10 over suicide attack on police        Trump chooses new Joint Chiefs of Staff chairman, against Mattis wishes        Can special consideration be shown to man with skin disorder: HC asks Centre        BJP files caveat in SC over 'rath yatra' in WB        'Won't hesitate from another surgical strike if need arises'        Kohli booed by Australian fans, Head, Ponting critical of crowd behaviour        Pujara, Rahane put India in driver's seat        Prabhu links creativity & business opportunities to cheap beverages in Goa        Merkel gets boost with ally's party win        Rouhani warns weakened Iran less able to fight trafficking        More than 225 terrorists killed in J&K so far this year: Army        Glad key people shedding fear, breaking silence on govt decisions: Chidambaram        Modi used surgical strikes for 'political capital': Rahul        Krishnamurthy Subramanian appointed as Chief Economic Advisor for 3 years        Indian Super League: Kerala Blasters' Hopes Hanging By A Thread After Defeat Against Pune City        31st GST Council to meet on Dec 22 in Delhi        Trump may nominate Heather Nauert as UN Ambassador: Reports        
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Business News
Bharti Airtel to acquire Millicom's operations in Rwanda
 
(New Delhi, Dec 19, 2017): Telecom operator Bharti Airtel today said that it has signed an agreement with Millicom International Cellular S.A. to acquire 100 per cent stake in its Rwanda operation which operates under the brand name of Tigo Rwanda.

"Bharti Airtel Limited...has entered into a definitive agreement with Millicom International Cellular S.A. (Millicom) under which Airtel Rwanda Limited will acquire 100 per cent equity interest in Tigo Rwanda Limited," Bharti Airtel said in a statement.

Under this deal, Tigo's 370 million customers will join the network of Airtel Rwanda. The acquisition will make Airtel Rwanda the second largest operator in the country with revenues of over USD 80 million and a revenue market share of over 40 per cent, the statement said.

"The consideration for the transaction is based on approximately 6x EBITDA multiple, payable over two years. The agreement is subject to regulatory and statutory approvals," the statement said.

Airtel at present operates in 15 African countries apart from India and South Asia.

"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," Bharti Airtel Chairman, Sunil Bharti Mittal said.

In the past, Airtel acquired assets in Uganda (Warid) and Congo B (Warid), Kenya (yu Mobile) and consolidated operations in Ghana (Millicom).

"We are also committed to the long term viability of our operations in two other countries i.e. Kenya and Tanzania, to ensure that in 2018 all our 15 operations in Africa start contributing positive margins and cash flows towards a healthy and profitable Airtel Africa," Mittal said.

Airtel is one of the largest telecom service providers across the continent in terms of geographical reach and had close to 83 million customers at the end of quarter ended September 30, 2017, the statement said.(PTI)


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KERALA NEWS
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INTERNATIONAL NEWS
Iran arrests 10 over suicide attack on police
 Tehran, Dec 9 (AFP) Iranian police said Sunday that 10 people had been arrested in connection with a
Trump chooses new Joint Chiefs of Staff chairman, against Mattis wishes
Merkel gets boost with ally's party win
Rouhani warns weakened Iran less able to fight trafficking
NATIONAL NEWS
Can special consideration be shown to man with skin disorder: HC asks Centre
 New Delhi, Dec 9 (PTI) The Delhi High Court has asked the Centre whether a man suffering from a rare
BJP files caveat in SC over 'rath yatra' in WB
More than 225 terrorists killed in J&K so far this year: Army
Glad key people shedding fear, breaking silence on govt decisions: Chidambaram
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