Shareholders approve Airtel raising stake in Africa unit
Bharti Airtel has secured shareholder approval for a share-swap transaction that will increase its effective stake in Airtel Africa to about 79%, deepening its exposure in its fastest-growing overseas market while simplifying the group’s ownership structure.
The transaction involves Airtel issuing equity shares to promoter-group entity Indian Continent Investment (ICIL) in exchange for its 16.31% stake in Airtel Africa. The deal, which remains subject to regulatory approvals, allows Airtel to raise its ownership in the African business without any cash outflow or additional debt.
