Bharti Airtel to take over Telecom Seychelles
"The Board of Directors has approved the acquisition deal on Wednesday morning," said Bharti Airtel CEO Manoj Kohli.
Bharti Airtel will enlarge its African footprint to 16 countries and its overall presence to 19 nations, after acquiring Telecom Seychelles into its fold.
Kohli said, "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 operations will benefit further by leveraging the efficiency scale of our African operations," added Kohli.
A Bharti Airtel spokesperson clarified that the company never had any stake in Telecom Seychelles and it was only using its brand name.
Telecom Seychelles began operations in 1998 by launching mobile services and and Wednesday, Aug 11.
Seychelles offers 3G mobile and integrated wire line services across the island nation under the Airtel brand and has over 57 percent share of the mobile market.