Gov’t to take over AirtelTigo

Gov’t to take over AirtelTigo

Indian telecommunications firm Bharti Airtel has announced that it is nearing conclusion to lease its share in AirtelTigo Ghana to the government.

In a statement to the Bombay Stock Exchange, Bharti Airtel said: “The parties are in advance stages of discussions for conclusion of the commercial agreement for the transfer of AirtelTigo on a going concern basis to the government of Ghana.”

This will see the Indian firm receiving about $25 million as impairment charge for the transaction.

If it concludes, the deal will see government of Ghana acquiring 100 percent shares in Airtel Ghana Limited, which in 2017 merged with Millicom Ghana’s Tigo to become AirtelTigo.

Airtel holds 49.95 percent share in AirtelTigo.

The transfer of ownership, if successful, will see the government of Ghana inheriting all customers, assets and agreed liabilities of the second largest telecommunications company in Ghana.

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