Further to the buyout announcement of October 4, Airtel Africa Plc has announced the completion of the minority shareholding buyback of Airtel Networks Limited (Airtel Nigeria).
This was contained in a notice signed by the group’s Company Secretary, Simon O’Hara, posted on the website of the Nigerian Exchange Limited on Thursday in Lagos.
According to the statement, the total consideration for the 8.22 per cent minority shareholdings acquired under the buyback is N61 billion, equivalent to $147 million, using an exchange rate of N415.07 to the dollar.
“Airtel Africa now holds 99.96 per cent ownership of its largest subsidiary,” it stated
