Indian telco Bharti Airtel has acquired the telecoms towers of insolvent Rwandatel for RWf9.3bn (US$15.5m), Rwandatel’s administrator Richard Mugisha was quoted telling local newspaper Business Times.
The insolvency proceedings against Rwandatel…
Indian telco Bharti Airtel has acquired the telecoms towers of insolvent Rwandatel for RWf9.3bn (US$15.5m), Rwandatel’s administrator Richard Mugisha was quoted telling local newspaper Business Times.
The insolvency proceedings against Rwandatel were initiated in April 2011 by the government, after the company failed to fulfil licence obligations in terms of investments, coverage, rollout and quality of services, as a result of which the operator lost its mobile licence.
Besides Bharti Airtel, Libyan investment vehicle LAP Green, which has an 80% stake in Rwandatel, had also been rumoured to be among the bidders for the carrier’s assets being sold in liquidation.
However, in early February, LAP Green reportedly pulled out of the process without giving any reason for it.
Bharti Airtel was granted a mobile licence to operate in the Rwandese mobile market in September last year and has reportedly pledged to invest US$100m over the next three years.
The Indian operator made its debut in Africa in 2010 when it bought the African operations of Kuwait-based Zain for US$10.7bn.
Bharti Airtel and Rwandatel could not be reached for comment.
