Bharti Airtel to exit Ghana

Bharti Airtel’s board on Wednesday cleared the sale of its Ghana joint venture – AirtelTigo – to the government in the African country, and is taking an impairment charge of Rs184.1 crore for the transaction.

“The parties are in advance stages of discussions for conclusion of the commercial agreement for the transfer of AirtelTigo on a going concern basis to the Government of Ghana,” Airtel said in a statement to the Bombay Stock Exchange on Wednesday.

The proposed deal would result in the government of Ghana acquiring 100% shares of Airtel Ghana Ltd, also known as AirtelTigo, along with all its customers, assets and agreed liabilities.