Government To Buy 100% Airtel-Tigo Shares – What Will Be The New Name After Purchase?

Airtel Merged with one of the smallest Telecoms in Ghana somewhere 2017 into AirtelTigo.

After the merger, the telco’s revenue grew 14.3% on a reported basis and 19.6% in constant currency, at $965 million, driven by customer base growth of 12%, both in Quarter 2 FY21 and half-year ended September, and average revenue per user (Arpu) growth of 6.8% in constant currency in July-September.

In August, Airtel Networks Kenya Ltd, a subsidiary of Bharti Airtel’s Africa unit, called off the merger with Telkom Kenya Ltd citing challenges to secure regulatory approvals for the deal.

Airtel in February 2019 had said its Kenya unit agreed to acquire Telkom Kenya, the East African nation’s smallest telecom operator, in which the state still has a 40% shareholding, after a majority stake was sold in 2007.

Airtel Africa is the holding firm for Bharti Airtel’s operations in 14 countries, with Nigeria alone accounting for almost half of its earnings before interest, tax, depreciation and amortisation.

According to Airtel Ghana, an 8.8% year-on-year drop in net profit to $88 million in the quarter ended September 2020 due to higher expenses is the reason for exit. The company had earlier reported a net profit of $57 million in the first half of the year.

Chunk of the company’s income came from Nigeria where it is the second largest mobile service provider.

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