Indian Continent Investment, a firm linked to Airtel Africa board member, Shravin Bharti Mittal, has acquired a substantial amount of the telco shares to cross the 15 per cent threshold in terms of its stakes in the multinational firm. As a result of the acquisition, Indian Continent Investment via Bharti Overseas Private now had voting rights over 567,665,566 shares in Airtel Africa, representing 15.1 per cent of the company. That marked a notable increase from its previous position, which stood at 12.58 per cent of the firm. Indian Continent’s latest acquisition comes just over a month ago when it bought Airtel’s shares worth £57.25m, which bumped its stakes to 12.58 per cent. The firm registered in Mauritius bought 53,500,000 units of Airtel Africa at £1.07 per unit.

Source: Punch December 15, 2023 17:51 UTC