Airtel Rwanda 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.
The acquisition will make Airtel Rwanda the second largest operator in the Rwandan telecom market after MTN Rwanda.
Suni Bharti Mittal, the chairman of Bharti Airtel announced both companies struck a deal to merge the operations of both telecom companies to create a strong entity.
“After striking the same deal in Ghana, Airtel and Tigo have once again merged their operations to create a strong viable entity in Rwanda and we acquired Tigo Rwanda to become a profitable and a strong challenger in a two-player market,” said Sunil Bharti Mittal.
The deal which indicates that Airtel will make the payment for over two years, will see existing Tigo Rwanda customers join over 370 million customers on Airtel’s global network across 17 countries.
In the past, Airtel acquired assets in Uganda (Warid) and Congo B (Warid), Kenya (yu Mobile) and consolidated operations in Ghana (Millicom).
With presence across 15 African countries, 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.