Bharti Airtel’s board has approved the sale of its Ghana joint venture, AirtelTigo, to the government of Ghana for Rs 1,841 million.
According to Airtel, the Ghana government and AirtelTigo are in advance stages of discussions for conclusion of the commercial agreement. The telco added that it is voluntarily taking an impairment charge of Rs 1,841 million for the transaction.
The proposed deal would result in the government of Ghana acquiring 100 per cent shares of AirtelTigo, along with all its customers, assets and agreed liabilities.
AirtelTigo is a joint venture between Airtel and Millicom wherein Airtel holds a non-controlling 49.95 per cent share in AirtelTigo.