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Telco acquires Liberia’s Cellcom via its Orange Cte d’Ivoire unit.
Orange has completed the acquisition of Cellcom, making Liberia its 20th market in the Middle East and Africa region.
The France-based telco group announced that it would buy Cellcom via its Orange Côte d’Ivoire subsidiary in January. It did not disclose the value of the transaction.
"Less than three months after signing the agreement with Cellcom Telecommunications Limited for the acquisition of its Liberian subsidiary, Orange has obtained all the official approbations necessary to complete the transaction," the telco said in a statement on Thursday.
Cellcom serves 1.4 million customers in a country with a population of 4.3 million, Orange said. Mobile penetration in Liberia is relatively low at 66%, meaning the country has "a high growth potential for Orange," it added.
Orange said that the acquisition forms part of its international development strategy, which includes entering new emerging markets with good growth potential.
The telco has previously said it aims to grow revenues in the Middle East and Africa by 20% between 2015 and 2018.
