Airtel set to boost Africa stake by 5% in FY25 with cash deals, eyes strong growth ahead
Bharti Airtel will acquire up to an additional 5% in its Africa unit in one or multiple tranches in FY25 via all-cash deals, the nation’s second-largest telco said.
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At present, Airtel owns 57.29% of Airtel Africa plc via Airtel Africa Mauritius Ltd (AAML) — a step-down Airtel subsidiary.
“The Special Committee of Directors, a duly authorised committee of the board, has approved an increase in shareholding of the company in Airtel Africa plc (a subsidiary company listed in UK), by acquisition of upto 5% stake in one or more tranches during FY25, through AAML).The acquisition shall be in accordance with the permitted modes and applicable laws,” Airtel said in an exchange filing Friday.
The company added that the acquisition would be undertaken for a cash consideration and at pricing, in accordance with applicable laws. The proposed deal would be concluded by end-March 2025.
At Airtel Africa’s current market capitalisation of Pound Sterling 5.07 billion (Rs 55,541 crore approx), a 5% stake would be worth around Rs 2,777 crore. Airtel’s cash & bank balances stood at Rs 6,024.4 crore in the quarter ended December 2024.
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