Bharti Airtel says its shareholders have approved a plan to consolidate its ownership in Airtel Africa through a share-swap transaction. Multiple outlets report that the approval comes from nearly all shareholders, enabling Airtel to increase its effective holding in the African subsidiary to about 79%. The deal is described as involving a preferential share issue by Bharti Airtel to Indian Continent Investment Limited, a promoter-group entity.
Under the arrangement, Indian Continent Investment Limited contributes its existing 16.31% stake in Airtel Africa to Bharti Airtel in exchange for equity shares in Bharti Airtel. The transaction is reported to be valued at around Rs 28,200 crore, based on figures cited by outlets.
With the added stake, Airtel’s effective ownership in Airtel Africa increases, aligning with the company’s objective of streamlining and consolidating its investments in its African operations. The reports collectively indicate that shareholder approval is in place, though the transaction’s subsequent steps and final closure are not detailed in the provided summaries.
