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Airtel buys Rwandatel masts for $15.5m
13 April 2012
Bharti Airtel signs mast deal after liquidated Rwandan operator Rwandatel puts assets up for sale
Indian operator Bharti Airtel has acquired mobile masts from Rwandan operator Rwandatel for $15.5 million, Richard Mugisha, administrator of Rwandatel, told a local business newspaper.
Rwandatel’s assets were put up for sale after a court decision in 2011 placed the operator under liquidation. Mugisha told the Business Times: “Other assets are still up for sale and we are still looking for potential buyers.”
Rwandatel’s remaining assets include fixed telecoms infrastructure as well as data and internet services infrastructure.
The Rwanda Utilities Regulatory Agency revoked Rwandatel’s GSM licence in 2011, citing the operator’s supposed failure to meet its obligations.
Libya-owned LAP Green Networks — founded by the government of late Libyan leader Muammar Gaddafi — held an 80% stake in Rwandatel, with the former National Social Security Fund of Rwanda holding the remaining 20% stake.
Airtel acquired an operating licence in September 2011 for $30 million, becoming Rwanda’s third operator after MTN and Tigo, and is aiming to invest $100 million in the country over the next three years. GTB
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