Airtel Networks Ltd also known as Airtel Nigeria, a subsidiary of Airtel Africa has initiated a process to buy back 8.27 percent minority shareholdings at a rate of N55.81 per share.
This information was disclosed in a statement made available by the Group Company Secretary, Mr. Simon O’Hara to reporters today, Monday in Lagos State.
The statement noted that the total consideration was estimated to be N61.24bn using an exchange rate of N413.38 with the assumption that all minority shareholders decides 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 presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.