Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Telecoms

Orange negotiating acquisition of Airtel’s African units

ORANGE-LOGO

French telecom group Orange announced Monday it is in exclusive negotiations to purchase four African subsidiaries from India’s biggest mobile company, Bharti Airtel.

“Orange and Airtel have entered into an exclusive agreement to explore the possible acquisition by Orange of Airtel’s subsidiaries in Burkina Faso, Chad, Congo Brazzaville and Sierra Leone,” the French group said in a statement.

Orange noted there was “no certainty of any binding agreement as a result of these discussions” currently underway with the Indian company’s Netherlands-based affiliate, Bharti Airtel International.

The negotiations come as Orange president Stephane Richard pursues his drive to ramp up the telecom’s development in Africa — an effort that previously raised the possibility of the French group acquiring Bharti Airtel’s African units last February.

At the end of 2014 Orange had 97.5 million clients in Africa and the Middle East, a regional customer base the company is looking to increase rapidly.

According to consultancy Deloitte, the number of smartphones in use in Africa is expected to double by 2017, fuelled primarily by increasing sales of low-cost handsets.

Active in 29 countries with 247 million clients, Orange is a major global telecoms player — generating 39 billion euros ($42.2 billion) in sales last year, and employing 155,000 people worldwide.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...