Airtel will acquire up to an additional 5 percent of its Africa unit in one or multiple tranches in FY25 through all-cash deals, Bharti Airtel said on Friday. Bharti Airtel currently holds a 57.29 percent stake in Airtel Africa plc through Airtel Africa Mauritius Limited (AAML), a step-down subsidiary of Airtel.
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Airtel’s Plan for Additional Stake Acquisition
"The Special Committee of Directors, a duly authorized 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 upto 5 percent stake in one or more tranches during FY 2024-25, through Airtel Africa Mauritius Limited (AAML), a step-down subsidiary company," Bharti Airtel said in an exchange filing on February 21, 2025.
The company added that the acquisition would be undertaken for a cash consideration and at pricing in accordance with applicable laws. The proposed deal is expected to be concluded by the end of March 2025.
Airtel Africa's Market Presence
Airtel Africa is a provider of telecommunications and mobile money services, operating in 14 countries in sub-Saharan Africa. Airtel Africa plc is listed in the UK. For the period ending December 31, 2024, Airtel Africa's total customer base grew by 7.9 percent to 163.1 million.
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"The recent signs of currency stabilisation in some markets and the recent decision from the Nigerian Communications Commission (NCC) regarding tariff adjustments in Nigeria are encouraging and signal a more stable and supportive operating environment," the Airtel Africa CEO said in the recent quarterly report.
