TECHNOLOGY

Airtel Africa Completes 8.22% Minority Buyback In Nigeria’s Unit At $147m

 Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa on Thursday announced the completion of the minority shareholding buyback of Airtel Networks Limited (Airtel Nigeria), its subsidiary and a leading provider of telecommunication services in Nigeria.

Airtel in a notice at the Nigerian Exchange said the total consideration for the 8.22% minority shareholdings acquired under the buyback is NGN61 billion, equivalent to $147m using an exchange rate of 415.07 NGN/USD.

“Airtel Africa now holds 99.96% ownership over its largest subsidiary,” the notice said.

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