Bharti Airtel gets board nod to raise stake in Airtel Africa by up to 5%

Bharti Airtel board has approved raising the stakeholding in Airtel Africa by up to 5 per cent, the telecom firm said in a statutory filing on Friday.

Airtel Africa Mauritius Limited, which is a step-down subsidiary of Bharti Airtel, presently holds 57.29 per cent of Airtel Africa plc.

The said acquisition is being done to increase stake in Airtel Africa plc, it said.

"...the Special Committee of Directors, a duly authorised Committee by the Board of Directors of the company, has approved an increase in shareholding of the company in Airtel Africa plc (a subsidiary company listed in UK), by acquisition of up to 5 per cent stake in one or more tranches during FY 2024-25, through Airtel Africa Mauritius Limited (AAML), a step-down subsidiary company," the filing said.

The acquisition shall be undertaken for cash consideration and at pricing, in accordance with the applicable laws, it further said.