Bharti Airtel in Talks to Buy Congolese Mobile Network
Published on: 4th Nov 2013
Note -- this news article is more than a year old.
India's Bharti Airtel is looking to expand its African footprint and is said to be in talks to buy Warid Group's mobile network in the Republic of Congo.
Sources close to the negotiations told the Hindu Business Line that the nature of the deal is to be finalised but the two companies have agreed for a strategic partnership in Congo.
Meetings have also been held with government officials in Congo to reassure them about the potential transaction and seek regulatory approval.
Regulatory approval is especially important as a previous deal by Warid to sell the local network to the Essar Group collapsed due to regulatory difficulties.
Sources added that there are other companies eyeing the Congolese mobile network.
On the web: Hindu Business Line