Operators of Tigo and Airtel Friday announced that they are done with talks to merge their operations in Ghana.
As per the agreement, Millicom International Cellular S.A. and Bharti Airtel Limited would have equal ownership and governance rights in the combined entity.
The merged business would serve nearly 10 million customers, of which 5.6 million are data customers.
Mohamed Dabbour, Executive Vice President, Millicom Africa, said: “In a highly fragmented telecom market, this deal represents a major milestone for our business in Ghana.
The combination of Tigo and Airtel will create an operator that will be able to offer Ghanaian consumers and businesses a state of the art network with high speed mobile data coverage.
This transaction underlines confidence in the Ghanaian economy, and provides the opportunity to develop nationwide digital infrastructure and services in Ghana.”
Raghunath Mandava, MD and CEO, Airtel Africa, said: “The agreement highlights our commitment to the Ghana market and our customers.
The coming together of the two entities will benefit customers, who can now enjoy an extensive combined network and a wider range of affordable and innovative products and services.
It will further strengthen our position in the market and offer huge benefits arising out of synergies in operations, resulting in better experience for the customers.”