Rabat – Maroc Telecom, the largest telecommunications operator in Morocco, announced on Thursday that it has acquired Tigo Chad, the Swedish subsidiary of Millicom, the main digital service provider in Africa.
The acquisition is part of Maroc Telecom’s plan to expand its operations in the region, according to Reuters.
The completion of the agreement is subject to the approval of the Chadian government within one month, reported Tchad Infos.
Millicom commented in a separate statement that the sale was in line with its intention to focus on Latin America. The transaction is not expected to have a material impact on Millicom as a whole, according to Globe News Wire.
Chadian President Idriss Deby received Maroc Telecom Group Chairman Abdeslam Ahizoune on February 19. Ahizoune went to talk to Deby about Maroc Telecom’s probable entry into Chad’s telecommunications market.
Millicom started its activities in Chad in 2005 through its subsidiary Tigo. Former Maroc Telecom regional director Kamal Okba, a computer engineer, became CEO of Tigo Chad on February 16, 2017.
Maroc Telecom is a leading telecommunications operator. Its majority shareholders are the Telecommunications Participation Company (SPT), controlled by Etisilat with 53 percent and the Kingdom of Morocco with 30 percent.
Millicom International Cellular SA was founded in 1992 and is headquartered in Luxembourg. It focuses on the emerging markets in Africa and South America.