 "Bharti Airtel to buy Uganda's Warid Telecom"){kind=logo}
Mumbai: Bharti Airtel, the world’s fourth largest mobile phone operator, said it had signed an agreement to buy rival Warid Telecom Uganda, in a move that will increase its customer base in the country by 60 percent.
The deal with Warid, the No 3 mobile phone company in Uganda, will add 2.8 million customers to take its total user base in the country to 7.4 million, Bharti said in a statement on Tuesday.
Financial terms of the deal were not disclosed.
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Airtel logo is seen in this file photo.[/caption]
Bharti, India’s top mobile phone carrier and ranked No 2 in Uganda, in 2010 ventured into Africa at a time when growth in its home market had started showing signs of saturation. The company, which bought money-losing operations in 15 African countries for $9 billion, has yet to turn a profit there.
Reuters