The Ghanaian government has completed the acquisition of AirtelTigo.
Bharti Airtel confirmed to the Bombay Stock Exchange that the Ghanaian government had completed the acquisition of AirtelTigo.
This follows the statements on October 27, 2020, and April 16, 2021, regarding the Ghanaian government’s acquisition of the AirtelTigo Joint Venture, the company said.
“We are writing to inform you that the transaction is completed and that the Government has received 100% ownership of Airtel Tigo “In the filing, Bharti Airtel claimed.
Bharti Airtel and Millicom International Cellular SA formed AirtelTigo, a joint venture that operated in the country.”
The Indian telecommunications company controls 49.95 percent of the joint venture. In 2017, the joint venture was completed.
As a result of the deal, AirtelTigo will now be a wholly owned subsidiary of the Ghanaian government.
According to the terms of the agreement, the Ghanaian government will receive 100% of Airtel Tigo’s shares.
The transfer, that was negotiated on a “going concern basis,” includes the acquisition of all of the joint venture’s customers, assets, and liabilities by the sovereign.
According to the company’s September-end quarter figures, its Ghana operations had around 5.1 million customers.