Operators

Bharti Airtel secures near-unanimous backing for Airtel Africa stake increase

Bharti Airtel shareholders have overwhelmingly approved the operator’s proposal to increase its stake in Airtel Africa through a share-swap transaction with promoter group entity Indian Continent Investment Limited (ICIL).

The proposal received 99.99% shareholder approval at an Extraordinary General Meeting held on June 12, with more than 5.64 billion votes cast in favour and just 707,490 votes against.

Under the transaction, Bharti Airtel will issue equity shares to ICIL on a preferential basis in exchange for ICIL’s 16.31% stake in Airtel Africa. The deal will raise Bharti Airtel’s effective ownership in Airtel Africa to around 79%, subject to regulatory approvals.

Airtel said the transaction strengthens its economic interest in a key growth market without requiring additional debt or cash outlay, while simplifying the group’s shareholding structure.

Bharti Enterprises founder and chairman Sunil Bharti Mittal said: “Airtel Africa is central to our growth strategy and is well positioned to deliver robust performance with an increasing contribution to our consolidated revenues. The company has always operated at the highest standards of corporate governance and financial discipline, and this overwhelming support reinforces the confidence that the investors have in the organization.

“Structured as a share swap, India’s largest ever transaction preserves capital strength for Airtel’s core operations and future growth ambitions. As we look ahead, we see significant potential in Africa for long-term shareholder value creation.”

The company described the move as a continuation of its strategy to gradually increase ownership in Airtel Africa, which operates across 14 African markets and remains one of the group’s primary growth engines.



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