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Airtel Africa announces offer to buyout Nigeria minorities

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Airtel Africa has announced that its subsidiary, Airtel Networks Ltd., (Airtel Nigeria) has initiated a process to buy back 8.27 per cent minority shareholdings at N55.81 per share.

The Group Company Secretary, Mr Simon O’Hara, disclosed in a statement made available to our correspondent on Monday in Lagos.

The statement noted that the total consideration was estimated to be N61.24 billion (using an exchange rate of N413.38) assuming all minority shareholders decide to tender their shares.

It said: “This represents an open offer to all shareholders.”

“A further announcement will be made in due course.”

Airtel Africa is a leading provider of telecommunications and mobile money services, with presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.

It offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services, both nationally and internationally.

The group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.

Itohan Abara-laserian

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective.A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour.The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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