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Bharti Airtel signs definitive agreement to acquire yuMobile

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Capital Market

To acquire 2.7 million subscribers of Essar Telecommunications Kenya

Bharti Airtel announced that consequent upon approval from the Communication Authority (CA) of Kenya, Airtel Networks Kenya (Airtel Kenya); a wholly owned subsidiary of Bharti Airtel International Netherlands BV has signed a definitive agreement with Essar Telecommunications Kenya, which operates under the brand name 'yuMobile', to acquire its over 2.7 million subscribers.

This transaction is subject to approval from Competition Authority of Kenya (CAK) and is likely to be concluded by fourth quarter of 2014.

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First Published: Sep 01 2014 | 9:21 AM IST

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