04 Nov Government completes takeover of AirtelTigo
The Government of Ghana has fully acquired 100 percent shares in telecommunication firm, AirtelTigo, along with all customers, assets, and liabilities.
With this, the telecommunication company will now operate as a state-owned entity.
The agreement for the transfer of AirtelTigo to the government was announced in April this year.
The takeover was indicated in a regulatory filing to the Bombay Stock Exchange from Bharti Airtel.
“This is further to our announcement dated October 27, 2020, and April 16, 2021, regarding the Government of Ghana’s takeover of ownership of AirtelTigo Joint Venture. We wish to update that the transaction has been completed and 100% shares of AirtelTigo have been transferred to the Government of Ghana,” Bharti Airtel said in the filing dated November 3, 2021.
Ursula Owusu-Ekuful, the Minister of Communication and Digitalisation signed the deal on behalf of the Ghana government whereas Ms. Jatina Catharina Uneken-van de Vreede, Mr. Martin P Frechette, Mr. Timothy Pennington, Mr. Eric Nana Nipah, and Mr. Vish Ashiagbor signed on behalf of the seller entities.
It is unclear how much it cost the government to takeover the ownership of AirtelTigo.
However, Mrs. Ursula Owusu-Ekuful in a Facebook post claimed that the government acquired it for “just a dollar”