Airtel plans to exit Ghanaian telecom market

“Bharti Airtel in its board meeting held earlier today announced the approval of the board for concluding an arrangement with Government of Ghana wherein Government of Ghana will acquire 100 per cent shares of Airtel Ghanax Ltd (AirtelTigo…) along with all customers, assets and agreed liabilities,” the company said in a filing to NSE.

The parties are in advanced stage of talks for conclusion of the commercial agreement for the transfer of AirtelTigo on a going concern basis to the Government of Ghana, it added.

Accordingly, Airtel is voluntarily taking an impairment charge of Rs 184.1 crore, it said.

AirtelTigo is a joint venture between Airtel and Millicom, wherein Airtel holds a non-controlling 49.95 per cent stake in AirtelTigo, it added. PTI