SAD NEW:Airtel will closed operation in Nigeria

Important info, Recession or severe economic crisis has attacked Airtel and might lead them to close operations in africa countries 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. I think this is one of the main reason Airtel has not launched their 4G LTE with other Nigeria Telcos.
Could this be the end of airtel in Africa? We hope not.

Mun Dauko Daga Shafin Hausaloaded.com

Mr HausaLoaded

Abubakar Rabiu Editor-in-cheif

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