In a strategic move, Axian Telecom has taken a significant step towards strengthening its presence in Senegal’s telecommunications market. The company recently signed an agreement to acquire an additional 40 percent stake in its joint venture, Free, in Senegal. Once the transaction is completed, Axian Telecom’s ownership in Free will rise to 80 percent, granting it substantial control and the ability to financially consolidate the operations of the venture.
This acquisition signals Axian Telecom’s commitment to further expand its foothold in the Senegalese telecom sector. By gaining majority ownership in Free, the company aims to leverage its expertise and resources to enhance the performance and offerings of the joint venture, catering to the evolving needs of the country’s telecom consumers.
However, before the deal is finalized, the transaction is subject to customary closing conditions, including regulatory approvals from relevant authorities in Senegal. Axian Telecom is diligently working towards meeting all necessary requirements and anticipates a smooth and successful closing of the agreement.