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Bharti Airtel’s arm acquires 13.36% equity stake in Airtel Networks, Nigeria

13 Mar 2013 Evaluate

Bharti Airtel’s wholly owned subsidiary, Bharti Airtel Nigeria B.V., has acquired an additional 13.36% equity stake in Airtel Networks, Nigeria from certain existing shareholders. Pursuant to this acquisition, Bharti Airtel Nigeria B.V. now owns 79.06% equity stake in Airtel Networks, Nigeria.

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.

The company’s net profit for third quarter ended December 31, 2012 declined by 47.01% at Rs 750.30 crore as compared to Rs 1416.00 crore for the quarter ended December 31, 2011. Total income has increased marginally by 5.45% to Rs 11344.00 crore for the quarter under review from Rs 10757.60 crore for the corresponding quarter of the previous year.

Peers
Company Name CMP
Bharti Airtel 1872.75
Vodafone Idea 12.34
Indus Towers 380.40
Tata Communications 1718.55
Railtel Corp. India 250.05
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