Home Business Technology Airtel Africa To Buyout Nigerian Minority Shareholding
Technology

Airtel Africa To Buyout Nigerian Minority Shareholding

Share
Share

Airtel Africa has announced that its subsidiary, Airtel Networks Ltd., (Airtel Nigeria) has initiated a process to buy back 8.27 percent minority shareholdings at N55.81 per share. 

In a statement on Monday, the Group Company Secretary, Mr Simon O’Hara, explained that the total consideration was estimated to be N61.24 billion (using an exchange rate of N413.38) assuming all minority shareholders decide to tender their shares. 

It said: “This represents an open offer to all shareholders. 

“A further announcement will be made in due course.” 

Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa. 

It offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services, both nationally and internationally. 

The group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.

Source NAN 

Share

Businesstoday Magazine

Businesstoday Conference/Awards

Related Articles

Lagos Targets Over $3m Ihvestments In Technology, Innovation

Lagos State Government is leading a team of start-up and established technology...

NCC Commences Pre-Enforcement Action On Starlink Over Price Hike

The decision by Starlink to unilaterally review its subscription packages upwards did...

NFIU Acknowledges Importance Of Fintech In Anti-money Laundering Fight

The Nigerian Financial Intelligence Unit (NFIU) has emphasised the importance of fintech...

NCC Announces Final Deadline For NIN-SIM Linkage Compliance

The Nigerian Communications Commission (NCC), has fixed September 14, 2024 as final...