Bharti Airtel gets shareholders’ nod to raise stake in Airtel Africa

Bharti Airtel on Monday said it has received approval from around 100 per cent of its shareholders to raise its stake in Airtel Africa by 16.31 per cent through a share-swap agreement worth Rs 28,220 crore. Following the transaction, Bharti Airtel’s stake in Airtel Africa will rise to around 79 per cent from the current 62.73 per cent.

“Nearly 100 per cent of its (Bharti Airtel) shareholders have approved the ongoing transaction to consolidate its stake in key strategic subsidiary Airtel Africa plc,” the company said in a statement.