Airtel to sell 2 African units |
Bharti Airtel will sell its mobile operations in two countries in Africa - Burkina Faso and Sierra Leone - to France`s Orange as it looks to turn around its operations in the continent.Airtel had in July 2015 entered into an agreement with Orange to sell four subsidiaries, but could finalize a deal for only two. Talks for an agreement for Chad and Congo Brazzaville have lapsed. Orange and Bharti Airtel International (Netherlands) BV have signed an agreement, leading to Orange`s acquisition of Airtel`s operations in Burkina Faso and Sierra Leone.Thus, Orange will acquire 100% of the two companies` share capital. The consolidated revenue of the two companies is around 275 million euros. These acquisitions will be implemented in partnership with Orange`s subsidiaries in the Cote d`Ivoire and Senegal.Orange is one of the world`s leading telecommunications operators with sales of 39-billion euros in 2014. It is present in 28 countries and the group has a total user base of 263 million customers worldwide.
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