Telecom major Bharti Airtel on Friday said it has entered into an agreement with Millicom International Cellular to combine the operations of their respective subsidiaries in Ghana.
As per the agreement, Tigo Ghana and Airtel Ghana will combine their operations in the African country. Airtel and Millicom would have equal ownership and governance rights in the combined entity.
According to the telecom major, the combined business would serve nearly 10 million customers, 5.6 million of which are data customers.
The new entity would cover more than 80 per cent of Ghana’s population with high speed data, providing the widest 3G coverage across the country, and would have revenues close to $300 million.
The company added that the transaction is subject to obtaining approvals from the relevant authorities in Ghana and the satisfaction of customary closing conditions.