The world's fourth largest mobile phone service provider, Bharti Airtel, had entered into an agreement to purchase its competitor Warid Telecom Uganda. The move is expected to expand the customer base of Bharti Airtel in Uganda by at least 60%.
The deal with the third largest mobile phone company in the African country would add on 2.8 million customers in Bharti making the total customer base of the telecommunications company to 7.4 million. This was confirmed through a statement last Tuesday, though no financial terms were disclosed.
Bharti is the top mobile phone service provider in India and ranks second overall in Uganda. The company ventured into African markets in 2010 at the time when the Indian mobile market had started to indicate signs of saturation. Bharti underwent on an acquisition spree, purchasing money losing ventures in fifteen different African countries for the total price of US$9 billion. Unfortunately, the company is still unable to turn a profit in any of its investments in Africa.
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