UAE-based Etisalat confirmed its acquisition of an 18% stake in its African subsidiary, Atlantic Telecom, for US$75m.
The transaction, first reported yesterday, takes Etisalat’s ownership in Atlantic to 100%.
In a statement, the operator says Atlantic…
UAE-based Etisalat confirmed its acquisition of an 18% stake in its African subsidiary, Atlantic Telecom, for US$75m.
The transaction, first reported yesterday, takes Etisalat’s ownership in Atlantic to 100%.
In a statement, the operator says Atlantic holds majority shares in seven African telecom operations including in the Ivory Coast, Benin, Burkina Faso, Gabon, Niger, Togo and the Central Africa Republic.
Etisalat first invested in Atlantic Telecom in April 2005. The investment included a 10-year management contract to operate Atlantic.
Etisalat also owns stakes in other African operations including in Tanzania, Sudan and Nigeria.
