News Airtel to sell it's two African operation to Orange

[scorpionking76]

 

[Technoglitch]

"Orange and Bharti Airtel International (Netherlands) BV have signed an agreement leading to Orange's acquisition of Airtel's operations in Burkina Faso and Sierra Leone," the company said in a statement.

As per the agreement, Orange will acquire 100 percent of the two companies' share capital. The consolidated revenue of the two companies is around 275 million euro. These acquisitions will be implemented in partnership with Orange's subsidiaries in the Cote d'Ivoire and Senegal.

Airtel said outlay for Orange for these transactions will be based on the financial of its two subsidiaries for the year ended March 31, 2016 and will represent the equivalent of 7.9 times Airtel's EBITDA in these two countries at this time. The completion of these transactions remains subject to approval by the competent authorities.

Airtel signs deal to sell two African operations to France's Orange - Firstpost

 

[IndianMascot]

They understood that they can loot only Indians.

 

[DashMajor]

Seems like in Nigeria their towers are either bombarded or stolen

 

[scorpionking76]

They understood that they can loot only Indians.

They were incurring losses from day 1 of the operation hence they decided to log off

 

[IndianMascot]

They must be in loss because rules would have been customer friendly not company friendly like in India.

 

[scorpionking76]

The fact is there were no takers for Airtel and African continent is dominated by MTN and Vodafone I guess.

 

[IndianMascot]

Really ? Vodafone is there

 

[Technoglitch]

Vodafone was present but wound up its African business.

 

[IndianMascot]

So no looters are able to survive there.