Bharti Airtel to pay Tanzania $26 million
June 11, 2019
12:09 am
Indiaβs Bharti Airtel has agreed to pay 60 billion shillings ($26 million) over five years and cancel debt to resolve a dispute over ownership of its Airtel Tanzania unit, the Tanzanian government said on Monday.
Tanzaniaβs minister for foreign affairs and east Africa cooperation, Palamagamba Kabudi, announced the deal at a ceremony to receive a three-month batch of monthly payments worth 1 billion shillings each due from April this year.
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Bharti Airtel also canceled $407 million of debt owed to it by Airtel Tanzania as part of the settlement, Kabudi
