The Group Company Secretary of Airtel Africa, Simon O’Hara, has disclosed that the group subsidiary, Airtel Nigeria, has initiated a process to buy back 8.27 per cent minority shareholdings of the Nigerian company, at N55.81 per share.
This is estimated at a market transaction of N61.24bn (using an exchange rate of N413.38), if all minority shareholders decide to sell their shares.
The Airtel announcement stated: “This represents an open offer to all shareholders.”
Airtel Africa, with strong roots in East and Central Africa, is a major provider of telecommunications and mobile money services, with presence in 14 countries.
