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Bharti Airtel and Millicom announce deal closure to combine operations in Ghana


  • Airtel and Millicom to have equal ownership (50:50) and governance rights in the combined entity
  • Combined entity becomes Ghana’s second largest mobile operator with 10 million customers
  • Network to cover over 80% of Ghana’s population; customers to benefit from affordable voice & high speed data services and mobile banking
  • Significant synergies to help combined entity achieve profitability and cash-flow levels faster.
  • Both Airtel and Millicom to have Board representations and Management positions in the merged entity

Bharti Airtel Limited (“Airtel”) and Millicom International Cellular S.A. ("Millicom"), through their respective subsidiaries, today announced the closure of the deal to combine their operations in Ghana. Under the joint agreement, Airtel and Millicom will have equal ownership (50:50) and governance rights in the combined entity, which will have revenues of approx. USD 300 million. Both Airtel and Millicom will have Board representations and Management positions in the merged entity. The Ghana National Communications Authority (NCA) granted approval for the merger proposal early this month.


The merged entity will become Ghana’s second largest mobile operator with close to 10 million subscribers. The combined networks of the two companies will cover more than 80% of Ghana’s population, in particular in villages and far flung areas, and serve customers with affordable world-class voice/ data services, affordable global roaming and mobile banking services. It will also have one of the largest sales and distribution network to enhance customer convenience.


The significant synergies from this merger will help the combined entity achieve profitability and cash-flow levels faster. In addition, the merged entity with its robust optic fibre footprint and increased number of data centres will bring significant benefits to diverse portfolio of enterprise customers - including both large corporations and SMEs.


Roshi Motman, the current CEO of Tigo Ghana, will be the new CEO of the joint entity. The merged entity will be deconsolidated and treated as a strategic asset in the form of a Joint Venture and the company will continue to operate both brands - Airtel and Tigo. The process of business consolidation will take place over the next few weeks.


The Airtel and Millicom teams will work together to ensure smooth transition, streamlining of operations and realization of synergies to ensure swift accrual of the merger’s benefits to all stakeholders.