The government of Ghana has completed its takeover of mobile network operator (MNO) AirtelTigo, according to Bharti Airtel’s regulatory filing to the Bombay Stock Exchange. The Indian group confirmed that 100% of the shares in AirtelTigo, a joint venture between Bharti Airtel and Millicom International Cellular, had been transferred to the Government of Ghana following completion of the transaction.
The Ghanaian government executed a definitive deal with AirtelTigo’s parent companies – Bharti Airtel and Millicom International Cellular Africa – in April this year to acquire 100% of the telco’s shares as well as its customers, assets and agreed liabilities. Although financial details of the transaction have not been revealed, the Minister for Communications and Digitalisation, Ursula Owusu-Ekuful, claimed in a Facebook post earlier this year that the government had acquired the company for just USD1.
Bharti Airtel and Millicom International Cellular (MIC) merged their Ghana operations in October 2017 to create the country’s second largest cellco at the time, although it has since slipped to third place behind rival Vodafone Ghana. According to the latest figures released by the National Communications Authority (NCA), the operator had 7.98 million mobile subscribers at 30 June 2021, equivalent to 19.1% market share.