The majority shareholder in Airtel Africa, Bharti Airtel, has acquired an additional 4.45 percent stake in Airtel Africa. This additional stake is valued at about N352.8 billion, based on Airtel’s share price of N2,156.
Through the acquisition, which was completed on Monday, February 24, Bharti Airtel’s stake in the African telecoms giant has increased from 57.293 percent to 61.745 percent. According to a corporate disclosure on the NGX website, the stake is held by Airtel Africa Mauritius Limited, an SPV owned by Bharti Airtel.
The Indian group acquired 163,580,582 new shares of Airtel Africa. Taking into consideration the cancelled shares due to the share buyback, Bharti’s stake moved from 57.06 percent to 57.293 percent between December 16 and February 24.