Less than three months after signing an agreement with Millicom, Orange has announced it has completed the acquisition of 100% of the mobile operator Tigo in the Democratic Republic of the Congo (DRC).
According to Orange the DRC's mobile market is experiencing significant growth and is currently the largest mobile market in Central and West Africa, after Nigeria.
"With a population of more than 80 million people and a relatively low mobile penetration rate of 50% of the population, the country offers considerable growth potential for Orange. The consolidation of Orange's and Tigo's operations in the DRC will enable Orange to strengthen its presence in the country," said Orange in a statement released today.
Commenting on this agreement, Bruno Mettling, Deputy Chief Executive Officer of Orange in charge of Operations in Africa and the Middle East, said: "We are extremely happy to announce the completion of the acquisition of Tigo by Orange DRC in a market marked by very strong growth potential. Through this strategic investment, Orange confirms its ambition to reinforce its presence in the Democratic Republic of the Congo and accelerate the conditions in which it can develop its services through this consolidation."
In February Orange described Tigo DRC as "a perfect fit" from a geographical and cultural standpoint.
At the time Millicom confirmed the deal and said it will sell 100% of the share capital in Oasis SA for a total cash consideration of US$160-million.