Bharti Airtel Buys Smaller Ugandan Mobile Network
Published on: 24th Apr 2013
Note -- this news article is more than a year old.
India's Bharti Airtel has announced a deal that will see its Ugandan subsidiary merging with the local Warid Telecom mobile network.
Airtel said that the transaction will further consolidate its position as the second largest mobile operator in Uganda with a combined customer base of over 7.4 million and market share of over 39%.
Airtel currently has 4.6 million customers in Uganda, while Warid has 2.8 million customers,
Speaking on the agreement, Mr. Manoj Kohli, MD and CEO (International), Bharti Airtel said, "We are delighted at this agreement with Warid, which also happens to be the first in-market acquisition in Bharti Airtel's history."
The financial terms of the transaction were not disclosed.
The agreement is subject to regulatory and statutory approvals.