(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
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Airtel Africa (AAF)