Simon O’Hara, Secretary to Airtel Africa on Monday in a statement made available to the Newsmen in Lagos said its subsidiary, Airtel Nigeria, has begun its process to purchase back 8.27% minority shareholding at N55.81 per share.
According to the statement, the total consideration was valued to be N61.24 billion (using an exchange rate of N413.38) assuming all minority shareholders decide to tender their shares.
Airtel Africa is a leading provider of telecommunications and mobile money services, with presence in 14 countries in Africa, primarily in East Africa, Central Africa and West Africa.
It 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.