Orange will acquire 100 per cent of the two companies' share capital.
Bharti Airtel said on Wednesday that it will sell its operations in Burkina Faso and Sierra Leone to France-based Orange, which will help it to reduce its debt. (Representational image)
New Delhi: Bharti Airtel said on Wednesday that it will sell its operations in Burkina Faso and Sierra Leone to France-based Orange, which will help it to reduce its debt.
Orange and Bharti Airtel International signed an agreement leading to Orange’s acquisition of Airtel’s operations in Burkina Faso and Sierra Leone.
Orange will acquire 100 per cent of the two companies’ share capital. The consolidated revenue of the two companies is around 275 million euros. “The outlay for Orange for these transactions will be based on the financials of Airtel’s two subsidiaries for the year ended March 31, 2016 and will represent the equivalent of 7.9 times Airtel’s EBITDA in these two countries at this time,” Airtel said.
( Source : deccan chronicle )
Next Story
