The Millicom Group announced Monday its decision to terminate the agreement to sell its subsidiary Tigo in Senegal to the Wari Group.
It also announces the signing of an agreement with the consortium made up of the Teyliom Telecom Group, NJJ, and Sofima (a telecommunications investment vehicle managed by the Axian Group Axian Group).
“The transaction will follow the regulatory process in effect. Its completion remains subject to compliance with the agreements between the parties, and the approval of the competent authorities, “said a statement from Tigo.
The new buyers of Tigo are Yerim Sow from Teyliom, Xavier Niel from NJJ, the Hiridjee family, owner of the Axian Group.
That is 24% of the market. Claude Foly asked Kabirou Mbodj, CEO and founder of the Wari group, what is the objective of this entry into the telecoms sector.
Wari is surprised by Millicom’s announcement
In a statement, Wari expresses his astonishment at the announcement of the questioning of the sale of Tigo and categorically rejects it.
“In accordance with the sales contract between them, Wari has respected all of its commitments in the context of the acquisition of the second Senegalese telephone operator, by paying the initial deposit of 10 million dollars and by carrying out a contractual due diligence of 9 months (study of all commercial, legal, financial and technical aspects of Tigo) which should lead to a payment of the balance no later than November 2, 2017 ”, indicates the text.
The digital financial services platform was to acquire the mobile operator Tigo / Senegal for $ 129 million.
The announcement was made in February 2017.
Tigo is the second largest operator in the country with nearly 4 million subscribers,