Bharti Airtel raises stake in Airtel Africa to 79%

Bharti Airtel has acquired 595,204,251 shares, representing around 16.3% stake, of Airtel Africa, from Indian Continent Investment (ICIL). Post this acquisition, the company’s effective stake in Airtel Africa has increased to around 79%. The acquisition was done through share swap, under which the company has issued its 146,761,335 fully paid-up equity shares of face value of Rs 5 each to ICIL on a preferential basis. Post this swap, ICIL holds around 3.25% of the total post-issue equity share capital of the company. $BHARTIARTL