French telecom giant, Orange has signed an agreement with Millicom to acquire Tigo of the Democractic Republic of Congo (DRC) for USD$160 million, reinforcing significantly its presence in the country. With the acquisition, Orange which is present in DRC since 2012 will become one of the leading mobile operators in the country.
Orange in a statement said that the mobile market in the DRC is undergoing significant growth and is currently the largest mobile market in Central and West Africa after Nigeria with more than 40 million subscribers. This acquisition underlines Orange’s strategy in Africa which aims at developing and maintaining leading competitive positions across its various countries of operations on the continent.
After announcing its acquisition of Cellcom Liberia a month back, Orange signed an agreement to take over Bharti Airtel's subsidiaries in Burkina Faso and Sierra Leone that boast a consolidated revenue of around 275 million euros.