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Bharti to buy Essar Telecom Kenya

Business Standard:  March, 2014

New Delhi: Bharti Airtel, on Tuesday, said Airtel Networks Kenya Limited has sought an approval from the Communications Authority of Kenya to acquire the telecommunications licenses and subscribers of Essar Telecom Kenya Limited. Essar Telecom Kenya operates under the brand name yuMobile.

If Bharti gets approval, the proposed deal will bring the Sunil Mittal-led operator more than 2.7 million customers of Essar Telecom Kenya. "The proposed association will undergo seamless integration once definitive agreements are signed and requisite regulatory and statutory approvals are received," Bharti said in a statement.

Bharti Airtel has operations across 17 countries in African continent. It entered Africa after acquiring the Africa operations of Zain Telecom in 2010 for about $10 billion.

Last month, Bharti Airtel has acquired Loop Mobile in India for about 700 crore. Loop acquisition has brought Bharti more than 3 million users in Mumbai circle, and about 500 telecom towers.

Bharti has added 1.9 million subscribers during the quarter taking total user base to 68.3 million. Data revenues in Africa grew 17% quarter-on-quarter while the jump was 93% year-on-year.