TPG's Rise Fund to invest $200 million in Airtel Africa mobile money business
The Hindu
Investment firm TPG's Rise Fund will invest $200 million in Airtel Africa's mobile money business at a valuation of $2.65 billion, Bharti Airtel said on Thursday.
Airtel Mobile Commerce BV is currently the holding company for several of Airtel Africa's mobile money operations, and is now intended to own and operate the mobile money businesses across Airtel Africa's 14 operating countries. The Rise Fund will hold a minority stake in AMC BV upon completion of the transaction, with Airtel Africa continuing to hold the remaining majority stake.
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