Bharti to acquire Telecom Seychelles
Bharti Airtel added another company to its shopping bag on Wednesday, saying it will acquire 100% stake in Telecom Seychelles for $62 million (about Rs 288 crore). The acquisition comes close on the heels of Bharti acquiring Zain Telecom’s Africa assets for $10.7 billion in June. “The board of directors approved the acquisition deal this morning,’’ Bharti Airtel CEO (International) and joint MD Manoj Kohli said. With Telecom Seychelles, Airtel’s African footprint now covers 16 countries with overall presence in 19 nations. “We are delighted at the addition of Seychelles to our Africa portfolio. Telecom Seychelles has world-class operations that include state-of-the-art 3G services. These will benefit further by leveraging the efficiencies of scale of our African operations,’’ Kohli added.