Essar buys majority stake in Dhabi Group

 
In a statement issued here, the Group said Dhabi’s telecom assets, Warid Telecom Uganda and Warid Congo SA, had an enterprise value of $ 318 million, but did not divulge how much it was paying for the stake.

Commenting on the occasion Essar Group Chief Executive Prashant Ruia, said, “Essar is delighted to partner with the Dhabi Group to expand its telecom operations in Uganda and Congo. This is in line with our plan to be a part of the growing market in Africa, under the brand ‘yu’ which was a stepping stone for Essar to expand its telecom footprint.”