Acquisition to consolidate the Rwanda telecom market and position Airtel as a strong No. 2 in Rwanda
Bharti Airtel announced that through its subsidiaries, it has entered into a definitive agreement with Millicom International Cellular S.A. under which Airtel Rwanda will acquire 100% equity interest in Tigo Rwanda. The acquisition will consolidate the Rwanda telecom market and position Airtel as a strong number 2 operator in Rwanda. 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.Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
