Telecom Operator Bharti Airtel Limited (Airtel) and Millicom International Cellular SA (Millicom), have closed the deal to co-operate their operations in Ghana.
Under the joint agreement, Airtel and Millicom will have equal ownership and governance rights in the combined entity, which will have revenues of approx. USD 300 million. Both Airtel and Millicom will have Board representations and Management positions in the merged entity. The Ghana National Communications Authority (NCA) granted approval for the merger proposal early this month.
Roshi Mohtam, the current CEO of Tigo Ghana, will be the new CEO of the joint entity. The merged entity will be deconsolidated and treated as a strategic asset in the form of a Joint Venture and the company will continue to operate both brands - Airtel and Tigo. The process of business consolidation will take place over the next few weeks.
As per the official statement, The merged entity will become Ghana’s second largest mobile operator with close to 10 million subscribers. The combined networks will cover more than 80% of Ghana’s population, in particular in villages and far-flung areas, and serve customers with affordable world-class voice/ data services, affordable global roaming and mobile banking services.