Airtel Africa Shares Jump 13% to 415.60p as Bharti Airtel Weighs Raising 63% Stake
Updated
Updated · MarketWatch · May 11
Airtel Africa Shares Jump 13% to 415.60p as Bharti Airtel Weighs Raising 63% Stake
14 articles · Updated · MarketWatch · May 11
415.60 pence marked a record high for Airtel Africa shares in London after majority owner Bharti Airtel said it was considering increasing its holding.
Bharti Airtel, which already owns about 63% of Airtel Africa, called a May 13 meeting to review a reorganization of subsidiary shareholding frameworks.
That review could include consolidating or acquiring shares in subsidiary companies, including Airtel Africa, fueling investor expectations of a larger Bharti stake.
Airtel Africa declined to comment; the stock was already up 17% year to date before Monday’s surge, making it the top FTSE 100 riser.
As its African subsidiary soars, why is parent company Bharti Airtel's own stock taking a hit from the same news?
Is Bharti Airtel's $3B African bet a brilliant growth play or a costly distraction from its crucial Indian market?