India’s top mobile phone operator, Bharti Airtel
Ltd, announced that it had acquired an additional 13.36 percent stake in
Nigerian unit, Airtel Networks Ltd, from existing shareholders.
The acquisition increased its total holding in the
Nigerian unit to 79.06 percent.
E-BIZ 24/7 report that the Financial terms of the
deal were not disclosed.
The company didn’t reveal the price it paid. It also
didn’t name the shareholders from whom it bought the stake.
Nigeria accounts for more than a third of Bharti’s
customers in Africa and about 10% to its consolidated profit.
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