Bharti Airtel Nigeria buys 13.36% more stake in Airtel Network

NEW DELHI: Telecom major Bharti Airtel today said its wholly-owned Nigerian subsidiary has acquired 13.36 per cent additional stake in Nigeria's Airtel Networks, which holds licence for providing mobile services.

"Bharti Airtel Limited has announced that its wholly-owned subsidiary, Bharti Airtel Nigeria B.V., has acquired an additional (around) 13.36 equity stake in Airtel Networks Limited, Nigeria from certain existing shareholders," Bharti Airtel said in a statement.

"With this acquisition, Bharti Airtel Nigeria B.V. now owns 79.06 per cent equity stake in Airtel Networks Limited, Nigeria," it added.

Airtel Network Limited holds telecom licence to provide services Nigeria.

However, financial details of this transactions was not disclosed by the company.