Orange in talks to acquire Airtel assets in Africa

Telcos enter exclusive agreement to discuss possible acquisition of four operations
Stéphane Richard, CEO, Orange.
Stéphane Richard, CEO, Orange.

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French telecom group Orange has entered exclusive talks with Indian telecom giant Bharti Airtel regarding the possible acquisition of its operations in Burkina Faso, Chad, Congo Brazzaville and Sierra Leone.

The operators added in a statement: “There is no certainty of any binding agreement as a result of these discussions.”

Stéphane Richard appeared upbeat, posting a tweet that read: “Thrilled to explore acquisition of 4 Airtel subsidiaries. Africa & Middle East is strategic for @orange with a strong potential for growth!”

Airtel has faced an uphill struggle in Africa, which it entered via a $10.7 billion acquisition of most of Zain’s African operations back in 2010.

 

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