Airtel Shareholders Back Airtel Africa Stake Consolidation; Effective Holding to Rise to 79%
New Delhi, June 15 (TNT): Bharti Airtel on Monday said nearly 100 per cent of its shareholders have approved the company’s proposed transaction to consolidate its stake in Airtel Africa Plc, paving the way for an increase in its effective holding in the African business to around 79 per cent.
In a statement, the telecom major said the proposal received overwhelming support from shareholders, including public and institutional investors, reflecting confidence in the strategic rationale and long-term value creation potential of the transaction.
The transaction involves the issuance of Bharti Airtel equity shares to Indian Continent Investment Limited (ICIL), a promoter group entity, on a preferential basis in exchange for ICIL’s 16.31 per cent stake in Airtel Africa.
According to the company, the deal is structured as a cashless share swap, enabling Airtel to increase its economic interest in Airtel Africa without any additional debt or cash outflow.
The company said the transaction would simplify the group’s shareholding structure, improve transparency and strengthen capital efficiency while preserving financial flexibility for future growth.
Commenting on the development, Sunil Bharti Mittal, Founder and Chairman, Bharti Enterprises, said Airtel Africa remains a key pillar of the group’s long-term growth strategy and is expected to contribute an increasing share to consolidated revenues.
He said the overwhelming shareholder support reflected investor confidence in the company’s governance standards, financial discipline and strategic direction.
Mittal noted that the share-swap structure would help preserve capital strength for Airtel’s core operations and future growth initiatives while enhancing exposure to a high-growth market.
Upon completion and receipt of all regulatory approvals, Bharti Airtel’s effective stake in Airtel Africa plc is expected to increase to approximately 79 per cent.
The company said the transaction is consistent with its long-term strategy of progressively strengthening ownership in Airtel Africa, which it described as a key strategic growth platform.
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