Bharti Airtel Says Airtel Africa IPO Will Not Change Shareholding of Tanzania Unit

Bharti Airtel says its plans for an IPO of its African operations will not change the shareholding pattern of its unit in Tanzania, reports India’s Business-Standard. After the Tanzanian government raised objections to the IPO of Airtel Africa, Bharti Airtel asserted that the planned listing would in no way dilute control of Airtel Tanzania.

Bharti Airtel said that even after the IPO, Airtel would continue to own the majority stake in Airtel Africa, which is incorporated in the UK. Airtel Africa inteds to list its shares on an international stock exchange to fund the growth of its businesses in fourteen African countries, including Tanzania, it said. Airtel has operations in Nigeria, Chad, Congo Brazzaville, Democratic Republic of Congo, Gabon, Madagascar, Niger, Kenya, Malawi, Seychelles, Tanzania, Uganda, Zambia and Rwanda. – Telecom Paper