Bharti Airtel to give Tanzania bigger stake in local telecoms company

Tanzania President John Magufuli and Bharti Airtel Chairman Sunil Mittal resolve dispute over ownership of Tanzanian mobile operator.

Bharti Airtel has agreed to give part of its stake in Airtel Tanzania to the government, raising the East African nation's holding in the mobile phone operator to 49 percent from 40 percent, the president's office said on Friday.

The announcement followed talks in Dar es Salaam between President John Magufuli and Bharti Airtel Chairman Sunil Mittal to resolve a dispute over ownership of the Tanzanian mobile operator.

"We have in principle agreed to move forward with a new arrangement of shareholding of 51:49--where Airtel will now drop from 60 percent to 51 percent and the people of Tanzania through the ownership