Orange completes Tigo DRC acquisitionMTHULISI SIBANDA
JOHANNESBURG, (CAJ News) – ORANGE, THE French operator, has announced the acquisition of Tigo in the Democratic Republic of Congo (DRC).
The 100 percent acquisition comes less than three months after the parties signed an agreement.
“We are extremely happy to announce the completion of the acquisition of Tigo by Orange DRC in a market marked by very strong growth potential,” said Bruno Mettling, Deputy Chief Executive Officer of Orange in charge of Operations in Africa and the Middle East.
“Through this strategic investment, Orange confirms its ambition to reinforce its presence in the Democratic Republic of the Congo and accelerate the conditions in which it can develop its services through this consolidation.”
The mobile market in the DRC is undergoing significant growth and is currently the largest mobile market in Central and West Africa, after Nigeria. With a population of more than 80 million people and a relatively low mobile penetration rate of 50 percent of the population, the country offers considerable growth potential for Orange.
Tigo has over 30 percent of the maret share.
The consolidation of Orange’s and Tigo’s operations in the DRC will enable Orange to strengthen its presence in the country.
– CAJ News
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