French telecommunications group Orange said Tuesday it had reached an agreement to buy 100 percent of Cellcom, Liberia’s number two mobile operator, for an undisclosed amount.
The acquisition “will enable Orange to strengthen its positions in Africa, which is a strategic priority for the Group”, it said in a statement.
Orange noted that the Liberian market had room for expansion as only two-thirds of the population own a mobile phone, a lower rate than in other countries in West Africa.
With a considerable number of subscribers already, “Cellcom has excellent potential for growth over the coming years”, said Orange.
The company’s founders and employees will remain involved in the business to support its performance, Orange said, and it would contribute marketing and technical expertise to further strengthen the network operator.