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Hot Pursuit
22-Feb-25
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Bharti Airtel board OKs to acquire additional 5% stake in Airtel Africa
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Bharti Airtel said that its board has approved to acquire additional 5% stake in Airtel Africa, wholly owned subsidiary, through Airtel Africa Mauritius (AAML) in one or more tranches during FY24-25.
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AAML, which is a step-down subsidiary of Bharti Airtel, presently holds 57.29% of Airtel Africa plc. The said acquisition aims to further increase its stake in Airtel Africa plc.
The acquisition is expected to be completed by March 31, 2025.
Bharti Airtel is a global communications solutions provider with over 550 million customers in 15 countries across South Asia and Africa.
The company's consolidated net profit surged to Rs 14,781.20 crore in the quarter ended December 2024 as against Rs 2,442.20 crore during the previous quarter ended December 2023. Sales rose 19.08% to Rs 45,129.30 crore in Q3 FY25 as compared with Q3 FY24.
The counter fell 0.41% to settle at Rs 1,638.40 on Friday, 21 February 2025.
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