India’s Bharti Airtel yesterday entered into a definitive agreement with the Warid Group to fully acquire Warid Telecom Uganda from the Abu Dhabi Group.
The cash deal makes Airtel Uganda the second largest mobile operator in Uganda with a customer base of over 7.4 million and market share of over 39 percent.
Bharti Airtel said:”The agreement aims to bring together the strengths of Airtel and Warid in Uganda and offer benefits to customers in the form of a superior and wider network, affordable voice and data services, and superior customer care.”
Airtel Uganda has 4.6 million but will have Warid Uganda’s 2.8 million customers join the network and Warid Uganda will be shut down. MTN remains the dominant player with 49 per cent of the country’s 16 million mobile subscribers.
Manoj Kohli, MD and CEO Bharti Airtel International said: ”We are delighted at this agreement with Warid, which also happens to be the first in-market acquisition in Bharti Airtel’s history. We believe this market consolidation offers great synergies by bringing together the best of Airtel and Warid to better serve customers in Uganda and drive forward our vision of offering affordable best in-class services in Africa. This development will translate to a healthier telecom sector in Uganda which will be ready to invest & grow in wireless broadband & m-Commerce services. ”
According to India’s Economic Times, Bharti Airtel bought 100% stake from the Abu Dhabi Group, owner of the Warid Telecom, in an all-cash deal of an estimated $100 million.
We will bring you updates as we gather them.