Orange Acquires Airtel Burkina Faso

Aitel Burkina Faso

Another major merger and acquisition, M&A deal has just been announced. This time around, it is about Orange Telecom. Orange said it has acquired a competing mobile operator, Airtel Burkina Faso

Airtel is the 2nd largest mobile operator in Burkina Faso, with close to 4.6 million customers in the country.

In a statement made available by the company, Orange said it partnered together with its subsidiary, Orange Côte d’Ivoire, to complete the acquisition of 100% ownership of Airtel in Burkina Faso.

Orange said the deal had been concluded and signed with Bharti Airtel International (Netherlands) BV in January 2016. It has now finalised and obtained all the official approbations necessary to complete the transaction.

Airtel is the 2nd largest mobile operator in Burkina Faso, with close to 4.6 million customers (on the basis of active customers within a 30-day period). On the mobile financial services market, Airtel is the leader and according to Orange, it is already interoperable with Orange Money in neighbouring countries allowing international transfers to be made. Airtel is also positioned as the country’s leading Internet provider due to its extensive 3.75G network, which has been rolled out in over 100 towns.

With 18 million inhabitants and a relatively high mobile penetration rate for the region (80% of the population), Burkina Faso becomes the 20th country in Africa and the Middle East to join the Orange group.

Orange’s said its investments in the coming years will enable customers in Burkina Faso to take advantage of the Orange group’s expertise and momentum in terms of innovation and development of the digital ecosystem, thus responding to a strong expectation from customers in Burkina Faso.

Burkina Faso is one of the countries with the strongest growth rates in the Economic Community of West African States, ECOWAS with 5.8% annual growth of GDP

Commenting on the deal, Bruno Mettling, Deputy Chief Executive Officer of the Orange group and Chairman & CEO of Orange MEA (Middle East and Africa), said: “We are pleased to announce that the acquisition of the mobile operator Airtel in Burkina Faso has been finalised. This new acquisition will further strengthen the Group’s positions on the African continent.

However, Orange did not disclose how much it paid for the company. Until now, Airtel Burkina Faso is owned by Bharti Airtel, a major telecom operator in Africa and the largest in India.

 

Disclaimer

The content on this site, including news, quotes, data and other information, is sourced by PageOne from official and public sources and other third party content providers for your personal information only, and is not intended for trading purposes. Content on this site is not appropriate for the purposes of making a decision to carry out a transaction or trade. Nor does it provide any form of advice (investment, tax, legal) amounting to investment advice, or make any recommendations regarding particular financial instruments, investments or products.

Leave a Reply

Your email address will not be published. Required fields are marked *