Ghanaian subsidiaries of Tigo, Bharti Airtel cleared for potential merger

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ACCRA, Sept 23 (Reuters) – Ghana’s National Communications Authority (NCA) regulator granted conditional approval for a merger between the local operations of Millicom’s Tigo and Bharti Airtel, a notice to employees of the subsidiaries said.

The two networks agreed in March to combine their operations based on equal ownership and governance rights. It is the first such joint venture proposed in Ghana’s highly competitive telecom sector.

Put together, the new entity would become Ghana’s second largest mobile operator serving around 10 million subscribers with revenues close to $300 million.

South Africa’s MTN (MTNJ.J) is leading mobile operator in Ghana, followed by Britain’s Vodafone. Others are Globacom of Nigeria and Sudan’s Sudatel Expresso.

“Kindly note that on Thursday, Sept. 14, we received a conditional approval from the National Communications Authority on the planned Tigo Ghana and Airtel Ghana merger,” according to a notice to Airtel and Tigo employees seen by Reuters.

It did not provide details of the conditions set in the approval but added that further information would be shared once discussion around the approval is closed. (Reporting by Kwasi Kpodo; Editing by Stephen Powell)

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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