Essar Group to buy Dhabi Group's telecom assets in Africa
December 15, 2009
The Ruias-promoted Essar Group has entered into a deal with UAE's Dhabi Group to buy a controlling stake in its African telecom assets, which are valued at about $318 million. The Dhabi Group has telecom operations in Uganda and Congo and operates through Warid Telecom.
The Essar Group has a licence to launch operations in Uganda and has applied for a telecom licence in Congo. Recently, it launched mobile services in Kenya under the Yu brand.
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