Bharti Airtel’s wholly owned subsidiary - Bharti Airtel International (Netherlands) BV through its wholly owned subsidiary, has completed the acquisition of Econet Wireless entire 4.2% shareholding in Airtel Nigeria. As a result, Airtel’s overall holding in Airtel Nigeria has increased to 83.25%.
After acquiring Zain’s telecom business for $10.7 billion in 2010, Airtel ran into a dispute with Econet Wireless -- a minority stakeholder in Zain Telecom. Earlier this month, Airtel had reached an agreement with Zain Telecom, pursuant to which Zain is to pay Airtel approximately $129 million for the settlement of all of Airtel’s claims on account of the Nigeria litigation, certain tax matters and associated legal costs.
Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.
