23 Jun 2016
France’s Orange Group has announced that, following regulatory approval, it has completed the acquisition of 100% shares in mobile operator Airtel in Burkina Faso via its Cote d’Ivoire subsidiary. The move sees Burkina Faso become the 20th country in the group’s African footprint. Commenting on the development, Bruno Mettling, Deputy CEO of Orange Group and Chairman and CEO of Orange Middle East and Africa (MEA), 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.’
As previously reported by TeleGeography’s CommsUpdate, in January 2016 Orange signed an agreement with Bharti Airtel of India to acquire the latter’s operations in Burkina Faso and Sierra Leone for 7.9 times Airtel’s EBITDA in the two countries at 31 March 2016. At the time, the operator noted that the acquisitions will be implemented in partnership with the operator’s subsidiaries in Cote d’Ivoire and Senegal.