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 percent minority shareholdings acquired under the buyback is N61bn, equivalent to $147m using an exchange rate of 415.07 NGN/USD.
Consequently, Airtel Africa now holds 99.96% ownership over its largest subsidiary (Airtel Nigeria).
Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa.
The buyout offer was earlier announced on 4 October 2021.