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Bharti Airtel says purchase of Tanzania unit stake had government approval

President John Magufuli said he received a report that the state-run Tanzania Telecommunications Company owned the local subsidiary of Airtel outright but had been cheated out of shares

Reuters  |  Nairobi 

Telecoms carrier Bharti Airtel said on Thursday that there were no irregularities in deals that made it the majority shareholder in a Tanzanian unit, a day after the country's president claimed the company belonged to the state. President John Magufuli said on Wednesday he had received a report that the state-run Tanzania Telecommunications Company Limited (TTCL) owned the local subsidiary of Bharti Airtel outright but had been cheated out of shares. Magufuli made the comments in a speech broadcast on television. He did not give further details, but ordered the finance minister ...

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First Published: Thu, December 21 2017. 22:06 IST
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