Airtel Africa completes minority stake buy back in Nigerian subsidiary

Thu, 02nd Dec 2021 10:08

(Alliance News) - Airtel Africa PLC on Thursday announced the completion of the share buyback of Airtel Networks Ltd from minority shareholders.

Airtel Networks is the Nigerian subsidiary of the Africa-focused but London-based telecommunications services provider.

The total consideration for the 8.2% minority shareholdings acquired under the buyback is NGN61 billion, equivalent to around USD147 million.

Airtel Africa now a holds 99.96% stake in Airtel Networks.

Airtel Africa first announced its plan for stake buy back in October.

Airtel shares were down 0.5% to 125.50 pence each in London on Thursday morning.

By Greg Roxburgh; gregroxburgh@alliancenews.com

Related Shares

More News

20 May 2024 16:52

LONDON MARKET CLOSE: London gets boost thanks to rate cut hopes

(Alliance News) - Stock prices in London closed higher on Monday, with investors optimistic that interest rate cuts might be around the corner.

20 May 2024 14:25

IN BRIEF: Airtel Africa confirms repayment of Netherlands bond

Airtel Africa PLC - Africa-focused telecommunications firm - Confirms that subsidiary Bharti Airtel International (Netherlands) BV has fully repaid a...

20 May 2024 09:47

LONDON BROKER RATINGS: Deutsche likes Trainline and Baltic Classifieds

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and on Friday:

15 May 2024 09:22

LONDON BROKER RATINGS: JPMorgan puts B&M on 'negative catalyst watch'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

10 May 2024 09:52

LONDON BROKER RATINGS: UBS raises Trainline, cuts Kingspan

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday: