Dear All,
On October 4th, AIRTELAFRI announced its intention to buy-out the 8.27% minority stake in its Nigerian subsidiary (Airtel Networks Limited). Accordingly, the group made an open offer to all shareholders at a price of NGN55.81 per
share. In the event that all minority shareholders tender their shares at the offer price, this transaction will cost the parent company up to USD148.10mn, representing 23.89% of the Group’s total cash as at Q1:2022.
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