AXIAN Telecom has recently entered into an agreement to acquire an additional 40% equity interest in its joint venture business, "Free in Senegal." Upon completion of this transaction, AXIAN Telecom will hold an 80% equity interest in Free in Senegal, granting it full control and enabling financial consolidation of the operations.
The agreement is contingent on customary closing conditions, including the approval of relevant authorities in Senegal.
Expressing enthusiasm about the transaction, Hassanein Hiridjee, chairman of AXIAN Telecom, stated, "We are delighted to have reached this agreement, providing us with control over Free Senegal and integrating its operations into the AXIAN Telecom group. We extend our gratitude to our partners for their significant role in developing Free in Senegal since 2018 and for their support in this endeavor. This additional investment reflects our unwavering confidence in Senegal's flourishing economy and expands our footprint in the West African markets. Working hand in hand with our dedicated colleagues in Senegal, we remain committed to energizing the telecommunications ecosystem, leveraging cutting-edge technologies and ensuring an enhanced experience for individuals and businesses."
