Deal Summary
Telecel Group (Telecel), an African-focused telecommunications provider, completed the acquisition of Areeba Guinea S.A., the Guinean operations of MTN Group Limited (MTN), on 30 December 2024, following the divestment of a 75% shareholding by MTN Dubai Limited, a wholly owned subsidiary of MTN. Telecel, founded in 1986, operates in 27 countries with 6 million subscribers, offering telecommunications, mobile money, and digital solutions. This acquisition follows MTN’s agreement to sell its interests in both Guinea-Conakry and Guinea-Bissau for a nominal fee of $1 as part of a December 2023 agreement to Telecel Group Mobile under the management of Telecel Group. Telecel concluded its acquisition of MTN Guinea-Bissau (Spacetel) in September 2024 as part of its strategic expansion in West Africa. These transactions align with Telecel’s growth and expansion strategy as it positions itself for a potential initial public offering (IPO) within the next three years.
Terms
- Seller: MTN Dubai Limited
- Buyer: Telecel
