TIDMAAF

RNS Number : 2897U

Airtel Africa PLC

02 December 2021

Airtel Africa plc

('Airtel Africa', or the 'Group')

Completion of Airtel Nigeria minority buyout offer

London and Lagos, 2 December 2021: Further to the buyout offer announcement of 4 October 2021, Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces 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 NGN 61bn, equivalent to $147m using an exchange rate of 415.07 NGN/USD.

Airtel Africa now holds 99.96% ownership over its largest subsidiary.

-ENDS-

Enquiries

 
 Airtel Africa - Investor Relations 
  Pier Falcione                           +44 207 493 9315 
  Morten Singleton                         +44 7446 858 280 
  Investor.relations@africa.airtel.com     +44 7464 830 011 
 
 Hudson Sandler 
  Nick Lyon 
  Bertie Berger 
  airtelafrica@hudsonsandler.com          +44 207 796 4133 
 

About Airtel Africa

Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.

Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services, both nationally and internationally.

The Group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.

For more information visit www.airtel.africa

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(END) Dow Jones Newswires

December 02, 2021 02:00 ET (07:00 GMT)

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