Orange Uganda bought by Africell

Despite denial of a series of rumours  by a press statement from Orange Uganda denying a buy out by another telecom a few months ago, Orange Uganda has been sold to Africell Holdings company.

This is after the two parties signed an agreement that will give Africell Holdings company an majority shake in Orange Uganda, Much as the this sale as to be approved by concerned bodies and authorities, the company says ” This transaction marks a new step in the Orange Group’s asset portfolio optimisation strategy for which Africa and the Middle-East remain a strategic priority.”

Orange has been in operations since 2006 and it had acquired 630,000 subscribers in the year ending December 2013.