Government to manage AirtelTigo temporarily in the interest of the state
- Discussions for the transfer of AirtelTigo shares to the government are in its advanced stages
- The transaction between the two parties will soon be concluded by the execution of definitive agreements
- It will ensure the protection of the interests of all employees, customers and stakeholders
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News reaching YEN.com.gh indicates that discussions for the transfer of AirtelTigo shares to the government are in its advanced stages.
According to report sighted on Graphic.com.gh, the transaction between the two parties will soon be concluded by the execution of definitive agreements.
Through this transaction, government will temporarily operate Airtel Tigo in the best interest of the country.
Source: UGC
It will ensure the protection of the interests of all employees, customers and stakeholders, and a continuation of the digital transformation in Ghana.
The government entered into this agreement to ensure that thousands of Ghanaian jobs are safe guarded in the face of harsh economic and industry related issues.
It is of critical importance that the telecommunications sector remains healthy, dynamic, vibrant, and most importantly, competitive.
YEN.com.gh earlier reported that Bharti Airtel’s board has cleared the sale of its Ghana joint venture, Airtel Tigo, to the government of Ghana.
It is taking an impairment charge of about $25million for the transaction.
Airtel said in a statement to the Bombay Stock Exchange stated that they are in advance stages of discussions for conclusion of the agreement for the transfer of AirtelTigo to the government.
AirtelTigo is a joint venture between 'Airtel' and 'Millicom' wherein Airtel holds a non-controlling 49.95% share in AirtelTigo.
In 2017, Airtel had merged its Ghana operations with Millicom operators of Tigo, resulting in the second largest mobile carrier in the country
AirtelTigo serves around 5.1 million subscribers and offers direct and indirect employment opportunities to almost 10,000 people.
Still on telecommunications, some days ago, Ghanaian actress nd entrepreneur Salma Mumin took to her social media account to announce that her GHc 10,000 had disappeared into thing air from her mobile money account.
It happens that all what Salam wrote was a farce and that she had no such amount of money in her business MTN MoMo account.
MTN Ghana, however, come to release a statement claiming that the post Shared by Salma Mumin on October 22, 2020, are false and misleading.
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Source: YEN.com.gh