Airtel Africa has announced the completion of the minority shareholding buyback of Airtel Networks Limited (‘Airtel Nigeria’), a subsidiary of Airtel Africa plc and a leading provider of telecommunication services in Nigeria.
The total consideration for the 8.22% minority shareholdings acquired under the buyback is N61 billion, equivalent to $147m using an exchange rate of 415.07 NGN/USD.
Airtel Africa now holds 99.96% ownership over its largest subsidiary.