Bharti Airtel gets shareholders’ nod to up stake in Airtel Africa to 79%

Bharti Airtel has received approval from nearly all of its shareholders to increase its stake in its subsidiary, Airtel Africa , by 16.31%. The transaction is valued at Rs 28,220-Cr and will be executed through a share-swap agreement.The transaction involves Bharti Airtel issuing equity shares to Indian Continent Investment Ltd, a promoter group entity, in exchange for the 16.31% stake. Bharti Airtel currently holds a 62.73% stake in the subsidiary, and this acquisition will increase its total economic interest to about 79%.