Bharti Airtel’s board has announced that it is in the advanced stages of concluding an agreement with the Ghanaian government to transfer mobile operator AirtelTigo to the state as a going concern. The proposed deal would result in the government acquiring 100% of shares of Airtel Ghana, along with all its customers, assets and agreed liabilities, Bharti Airtel said in a statement. No financial details of the sale were disclosed, but Airtel said it is taking an impairment charge of INR1.841 billion (USD24.9 million) on its holding in the operator.
AirtelTigo is a 50/50-owned joint venture between Bharti Airtel and Millicom International Cellular (MIC). The pair’s Ghanaian units Airtel Ghana and Tigo Ghana were combined in October 2017 to create the country’s second largest cellco at the time, although it has since slipped behind rival Vodafone Ghana.