Government of Ghana purchased 100% of Airtel Ghana shares

The Ghana government has bought stock of Bharti Airtel for an impairment fee of approximately US$ 25 million.

The agreement would enable the government to purchase 100% of Airtel Ghana Ltd. stock, including the acquisition of subscribers, properties, and negotiated liabilities, according to sources.

“The parties are in advance stages of negotiations on the completion of the trade agreement for the transition of AirtelTigo to the Government of Ghana on an ongoing basis of interest,” Airtel said on Wednesday in a statement to the Bombay Stock Exchange as stated by GraphicOnline.com.

AirtelTigo is a joint venture between the Tigo operators in Ghana, Bharti Airtel and Millicom International Cellular. In 2017, the two combined, becoming at the time the second-largest telecom provider in Ghana.

The Network Operators have a customer base in Ghana of around 10 million. Airtel has a 49.95 percent non-controlling share of AirtelTigo.

Source: ghanaweb