Bharti airtel to ramp up stake in airtel Africa p.c. By using up to five%
Telecom essential Bharti Airtel's board has approved raising the stakeholding in airtel Africa by as much as five percent, the telecom firm stated in a change submission on february 21.
Airtel Africa mauritius, which is a step-down subsidiary of Bharti airtel, currently holds 57.29 percent of airtel Africa.
The said acquisition is being accomplished to grow the stake in airtel Africa, it said.
"...the unique Committee of directors, a duly authorized Committee by means of the Board of directors of the agency, has accepted a boom in shareholding of the organization in airtel Africa p.c. (a subsidiary organization listed in the United Kingdom) by means of the acquisition of up to five consistent with cent stake in one or extra tranches at some stage in FY 2024-25, via airtel Africa mauritius constrained (AAML), a step-down subsidiary employer," the submitting further stated.
The purchase shall be undertaken for coins attention and at pricing, in accordance with the applicable laws, it similarly introduced.
Bharti airtel on february 6 stated a 505% jump in net income.
At Rs 14,781 crore for the zone that ended december 31, 2024, as a result beating estimates, on account of a one-time advantage incurred by the consolidation of a majority stake in Indus Towers. It suggested a net income of Rs 2,442 crore in the year—in the past period.
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