RURA approves Tigo takeover

The Board of Rwanda Utilities Regulatory Authority (RURA) has approved the acquisition of Tigo Rwanda Ltd by Airtel Rwanda Ltd. As such, RURA announced the transfer of all shares of Millicom International Cellular S.A in TIGO Rwanda to Airtel Rwanda Ltd. A statement signed by Beata Mukangabo, the head of legal and economic regulation at the regulatory body, assured TIGO subscribers that the acquisition shall not affect the existing subscribers of TIGO Rwanda but rather it is “expected to bring industry stability, improved quality of services and product innovation for the benefit of the consumers.” “The existing subscribers of TIGO Rwanda will continue to be served, seamlessly, during and after the consolidation. Subscribers will not be required to change their existing TIGO telephone numbers and existing TIGO cash services will not be affected,” the statement reads in part. The approval effectively puts into force the agreement reached between Millicom Group and Bharti Airtel Group, announced last December. Bharti Airtel Limited, an India-based telecom giant said the implication of the deal is that Airtel Rwanda Limited will acquire 100 per cent equity in Tigo Rwanda, which, according to October figures, has 3.4 million subscribers in the Rwanda market. The acquisition, according to Bharti, is aimed to consolidate the Rwandan telecom market and position Airtel as a strong number 2 operator in Rwanda with revenues of over US$80 million and a revenue market share of over 40 percent. Existing Millicom Rwanda customers will join over 370 million customers on Airtel’s global network across 17 countries and enjoy the benefits of a superior network, international roaming, and high quality 3G, 4G speed as well as Airtel Money services. With presence across 15 African countries, Airtel is one of the largest telecom service providers across the continent in terms of geographical reach and had close to 83 million customers at the end of quarter ended September 30, 2017. Globally, Airtel is ranked as the third largest mobile services provider in terms of customer base. Headquartered in New Delhi, India, Bharti is ranked amongst the top 3 mobile service providers globally in terms of subscribers. Now that the takeover is given a green light by RURA, the Rwanda market will now have two players; the merged entity and MTN Rwanda. editorial@newtimes.co.rw

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RURA approves Tigo takeover