Airtel Bharti acquires Warid Telecom Uganda
A takeover deal has been reached between the world’s fourth largest mobile phone operator, Bharti Airtel, and Warid Telecom Uganda.
The Indian based firm looks set to increase its market share in Uganda by 39 percent, although no financial details of the deal have so far been released.
Manoj Kohli, Bharti Airtel’s managing director and Chief Executive Officer 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."
Airtel first entered the African market in 2010 and now has a presence in 17 African countries and a customer base of more than 62 million customers in the continent.
Warid is the third largest mobile phone company In Uganda and the deal will see Airtel add a further 2.8 million customers to its total user base in the country of 7.4 million.
Mohammed Nahayan, who sits on the board of Warid, said: "We are extremely pleased with this development, which offers Warid consumers added benefits like wider network coverage, most extensive 3G network, world class products and services from one of the world's largest mobile services provider."
It is also hoped the takeover will help Airtel to expand its One Airtel network as well as lowering roaming rates across Africa and South Asia.
In Rwanda active mobile subscribers as of February 2013 are six million, according to Rwanda Utilities Regulatory Authority, while MTN enjoying the largest share at 71 percent.
Mobile cellular penetration rate reached jumped from 44.8 percent in June 2012 to 56 percent in March 2013.