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French incumbent says deal fits with telco’s international development strategy
Orange announced on Tuesday that its Côte d’Ivoire subsidiary will enter neighbouring Liberia after agreeing to acquire local player Cellcom.
"Liberia is a country of over 4.3 million inhabitants, with a mobile penetration rate of 66%, lower than in many neighbouring countries. With a national mobile licence and its significant market share in the country in number of subscribers, Cellcom has excellent potential for growth over the coming years," said a statement from Orange.
"Orange will provide its marketing expertise and world-class technical capability to further strengthen the network operator, enhance services to consumers and contribute to the economic growth of Liberia," Orange said, adding that Cellcom Liberia’s founders and employees "will remain involved with the business to ensure a smooth integration."
Orange said the acquisition is in line with its international development strategy.
In July 2015, the French incumbent strengthened its focus on Africa and the Middle East, creating a new holding company for its operations there. The company said at the time that it was open to in-market and inter-market consolidation.
Orange aims to grow revenues in the Middle East and Africa by 20% between 2015 and 2018. In 2014, the telco generated revenue of €5.7 billion from the region.
Orange said Tuesday’s acquisition of Cellcom Liberia is subject to regulatory approval. Financial terms were not disclosed.
