Ratio Magazine :: The Inside Track to East Africa’s Economies - EAC Regional: Press Releases: Dhabi Group and Essar Group in Talks for Africa

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EAC Regional: Press Releases: Dhabi Group and Essar Group in Talks for Africa

Monday, 20 July 2009

19 July 2009 --- The Dhabi Group and the Essar Group today announced that they have agreed to enter into exclusive discussions in relation to an investment by Essar Group into the telecommunications portfolio of Dhabi Group’s African assets. The transaction will involve an equity infusion into these businesses as growth capital and will be the basis of a partnership to create a significant presence in Africa. Standard Chartered Bank is acting as exclusive financial advisor to the Dhabi Group.

Essar has significant interests in telecommunications services, spanning mobile telephony, telecom tower infrastructure, telecom retail and IT/telecom enabled services.

Essar holds a 33% interest in Vodafone Essar, which is a joint venture with the Vodafone Group, and is one of India’s largest cellular service providers, with over 75m subscribers;
Essar Telecom Kenya has recently launched Kenya’s fourth mobile cellular network under the brand “yu”
‘The MobileStore’, a pioneering telecom retail initiative from the group, is India's largest national retail chain of mobile phone stores with over 1,300 stores spread across 200 cities;
The group owns Essar Telecom Infrastructure Ltd., one of the largest independent telecom tower infrastructure providers in India;
Essar operates an outsourcing services business under the Aegis brand, with over 33,000 employees globally across 32 delivery centres in the Philippines, Costa Rica, USA, Africa and India.

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