SEARCH

Business » Industry

Updated: March 4, 2014 19:53 IST

Airtel may acquire Essar Telecom's Kenya business

Special Correspondent
Comment   ·   print   ·   T  T  
Bharti Airtel is planning to acquire Essar Telecom's business in Kenya, according to a company statement. File photo: Shanker Chakravarty
Bharti Airtel is planning to acquire Essar Telecom's business in Kenya, according to a company statement. File photo: Shanker Chakravarty

With an aim to increase its presence in Africa, Bharti Airtel is planning to acquire Essar Telecom's business in Kenya.

"Airtel Networks Kenya Limited ("Airtel Kenya") has sought an approval from the Communications Authority of Kenya to acquire the telecommunications licenses and subscribers of Essar Telecom Kenya Limited, which operates under the brand name 'yuMobile'", leading mobile operators said in a statement.

"The proposed arrangement envisages over 2.7 million customers of Essar Telecom Kenya becoming part of Airtel Kenya's mobile network.

The proposed association will undergo seamless integration once definitive agreements are signed and requisite regulatory and statutory approvals are received," it added.

Apart from Airtel, Kenya's leading operator Safaricom is likely to acquire Essar Telecom's infrastructure. The total deal is estimated to be between $90-100 million.

If the deal goes through, it will be Bharti Airtel's second acquisition within a month after having bought business and assets of Mumbai-based Loop Mobile for about Rs.700 crore.

More In: Industry | Business
This article is closed for comments.
Please Email the Editor
The Hindu presents the all-new Young World
ADVISORY ON OIL BLOCKS
Should India restrict foreign investors in a globalised world?
Yes
No
Can't say

National

International

Sport


O
P
E
N

close

Recent Article in Industry

Rajiv Lall

IDFC lists 4-pillar approach for banking foray

IDFC Ltd, on Tuesday, indicated that its proposed banking entity would rely on four pillars for growth. Rajiv Lall will step down as Exe... »