Orange to buy Bharti Airtel’s subsidiaries in Africa

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Mumbai | Published: July 20, 2015 11:21:32 PM

Telecom major Orange and Bharti Airtel's Dutch subsidiary has entered into an agreement of possible acquisition of the latter's subsidiaries in Africa, Orange said...

Orange Bharti Airtel“Orange and Airtel have entered into an exclusive agreement to explore the possible acquisition by Orange of Airtel’s subsidiaries in Burkina Faso, Chad, Congo Brazzaville and Sierra Leone,” the release said. (Reuters)

Telecom major Orange and Bharti Airtel’s Dutch subsidiary has entered into an agreement of possible acquisition of the latter’s subsidiaries in Africa, Orange said in a release on Monday.

“Orange and Airtel have entered into an exclusive agreement to explore the possible acquisition by Orange of Airtel’s subsidiaries in Burkina Faso, Chad, Congo Brazzaville and Sierra Leone,” the release said.

However there is no certainty of any binding agreement as a result of these discussions, it added.

Bharti Airtel which has huge debt is looking to sell some of its overseas assets, including subsidiaries and tower infrastructure, especially in the African continent, to pare debt.

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