Bharti Airtel to give shares to Government of Ghana

Telecommunications company, Bharti Airtel is working on giving its shares in AirtelTigo to the government of Ghana.

Bharti Airtel will receive about $25 million as impairment charge for the transaction.

According to a statement sent to Bombay Stock Exchange in India, Bharti Airtel said: “The parties are in advance stages of discussions for conclusion of the commercial agreement for the transfer of AirtelTigo on a going concern basis to the government of Ghana.”

With this deal, the government of Ghana would acquire 100 percent shares in Airtel Ghana Limited.

Furthermore, the deal if successful will allow the government inherit all customers, assets, and agreed liabilities of the second-largest telecommunications company in Ghana.

In 2017, Airtel merged with Millicom Ghana’s Tigo to become AirtelTigo which Airtel owns a 49.95 percent share in AirtelTigo.