As per industry sources, the Ghana government will acquire 100 per cent stake in AirtelTigo along with customers, assets and liabilities.
AirtelTigo is a joint venture between Bharti Airtel and Millicom International Cellular SA in the African country.
As per Airtel, the transaction would entail a seamless takeover of the company by the Ghana government, post which, AirtelTigo would become and operate as a state entity.
Further, the operator has said that the transaction is subject to closing of the mutually agreed conditions and Airtel, Millicom along with the Ghana government would expeditiously complete the closing.
Airtel has a non-controlling stake of 49.95 per cent in AirtelTigo, while the balance 50.05 per cent is held by Millicom.
Earlier in October 2020, the Airtel board had cleared the sale of AirtelTigo to the Ghana government and had reportedly taken an impairment charge of Rs 1.84 billion for the transaction.
Bharti Airtel had merged its Ghana operations with Millicom back in 2017. The merger was then approved by the local regulator subject to the condition that the Ghana government would have the option to buy a stake in the new entity in future.
