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.
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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.