Jan 26, 2017

Airtel Set To Close Operations In Nigeria and Other African Countries

Sometimes i think if the present Nigeria economic was only affecting the average Nigerians, not knowing that it's also affecting Airtel. According to the latest news in town now, Airtel is planning to close operations in Africa including Nigeria because it's been a bad year for Airtel as they have lost $91 million in the quarter of September 2016.

According to Bloomberg;
"Airtel is considering mergers or stake sales at some of its Africa operations as it looks to cut debt and make its biggest overseas acquisition profitable.”

This means that Airtel is planning to settle their debt by selling some of their Africa operations.

At the World Economic Forum in Davos, Mr. Mittal, the chairman of Bharti Airtel said;
"This process would be completed within a year and would affect some of Bharti’s businesses in 15 African nations, including Nigeria."

In order to reduce the debt, Airtel is now planning to sell stake in Bharti Infratel Ltd which is the TOWER UNIT. A committee was studying whether the sale would be a minority stake or control of the tower unit and a decision could be taken in a month.

No wonder Airtel hasn't launched their own 4G LTE network, after other telcos like GLO, MTN and Etisalat has launched theirs.

What do you guys have to say about this? Kindly comment and share.

9 comments

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  1. No matter how airtel settle their debt,Airtel will not OK,until they reform their strategic! Gbam!!!

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  2. I think Airtel should reduce the price of their products so as to attract more customers

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  3. The economy is going from bad to worse each day... i hope airtel can come out of this debt crisis. Their data speed is still among the best.

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  4. None of my business. No be today dem go start to dey sell am. One day, I go buy am, make my money and resell it another person. No time. Meanwhile, VICTOR, make una open eyes o. Because very soon, airtel cheat go dey. Na so he dem be when dem sell am. Hehehehehe

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  5. I hope they settle there debt without selling their company

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  6. Abeg who Dem epp self

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  7. Too bad, Airtel has the cheapest call rate ever, 11k/s ,will miss them badly

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