Millicom International Cellular S.A. and Bharti Airtel Limited, through their respective subsidiaries, have agreed for Tigo Ghana Limited and Airtel Ghana Limited to combine their operations in Ghana, the companies said.
As per the agreement, Millicom and Airtel would have equal ownership and governance rights in the combined entity.
The combined business would serve nearly 10m customers, of which 5.6m are data customers. It would cover more than 80% of Ghana´s population with high speed data, providing the widest 3G coverage across the country, and would have revenues close to USD 300m, making it one of the largest communications companies in Ghana.
The transaction is subject to obtaining approvals from the relevant authorities in Ghana and the satisfaction of customary closing conditions.
By integrating the two networks, the combined business is expected to provide Ghanaian customers with a major boost in both rural and urban network coverage — in turn translating into better voice quality, high speed data services and reinforced network stability and resilience. With the combined fibre footprint and increased data centres, enterprise customers including both, large corporations and SMEs, would have access to a diverse portfolio of world class solutions. Mobile Financial Services is also expected to be greatly enhanced with combined agent networks and platforms.