Update: Essar has acquired majority (51%) stake in the Dhabi Group's Uganda and Congo-Brazaville telecom networks, which are collectively valued at $318 million. The capital will be used to expand networks and for marketing. Though the company statement did not disclose the size of the deal, Business Standard put it at around $150 million (Rs 692 crore). Last month, Essar Group revealed it was raising Rs 4500 crore by monetising its shareholdings in Vodafone Essar, an Indian telco. Original Story (14th September 2009): Essar Teleholdings, the telecom subsidiary of Mumbai group Essar Global, is in advanced stages of talks with Dhabi Group to acquire the latter's African telecom companies, reports Uganda's Daily Monitor. The deal is expected to close the deal in three months' time. The Abu Dhabi group runs Warid Telecom in Pakistan, Bangladesh, Uganda and Congo-Brazaville with launch plans underway for Cote d'Ivoire (Ivory Coast). Essar is interested in the Uganda and Congo networks. It has a presence in Kenya (as Yu Telecom) and Uganda. Believed to be a takeover, it might turn out to be a joint venture as an official communique dated August terms it as an "equity infusion" that will be "the basis of a partnership to create a significant presence in Africa". Synergies Essar's Yu Telecom has had a similar low pricing strategy as has Warid in Uganda. Vodafone Essar offers international roaming coverage to Warid in Gujarat and Kerala. Essar Telecom Kenya has a 10% stake in The East African Marine System fiber-optic cable. Warid has launched…
- Video: Exploring User Verification, 23rd Mar, 2023, Delhi #Ad March 27, 2023
- MediaNama Daily: Caught red-handed March 25, 2023
- US govt warns businesses of ‘AI deception’, calls for mitigating risks before launching AI products March 24, 2023
- Here’s what TikTok’s CEO said in his U.S. Congressional Committee Hearing March 24, 2023
- Cyberabad police bust a gang selling personal data of 16.8 Crore citizens March 24, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...