Uganda’s regulatory authority has affirmed it would accept the Bharti-Zain transaction, provided both parties respect domestic laws.
Since its confirmation, Bharti Airtel’s acquisition of Zain’s African operations for $9 billion has caused a stir in countries like Congo and Nigeria. However, Uganda’s regulator has stated that the deal would get the country’s backing.
“As long as they follow the law, we wouldn’t go against the transfer”, a spokesman for the Uganda Communications Commission said in an interview with India’s news agency.
The spokesman said that the transaction is not a novelty in Uganda’s telecommunication market, since Zain entered the East African country by acquiring a local operator.
Earlier this month, the Congo Republic criticized Bharti-Airtel’s takeover of Zain’s African assets, stating that government approval should have been sought beforehand.
At the end of March 2010, Indian firm Bharti Airtel and Zain signed a $9 billion deal that saw Bharti taking control of Zain’s assets in 15 African countries, including Uganda.
