Airtel makes moves to buyback 8.27% of its shares

by:

G-Viral

Airtel (Airtel Network Limited) network and service provided has made moves to buyback 8.27 percent minority shareholdings at N55.81 per share, which would result to N61.24 billion.

Airtel Nigeria is a subsidiary of Airtel Africa Plc.

In a notice on the Nigerian Exchange Limited (NGX) on Monday, Simon O’Hara, company secretary at Airtel Africa Plc, said the total consideration was estimated to be N61.24 billion if all minority shareholders decide to tender their shares.

He said, “This represents an open offer to all shareholders. A further announcement will be made in due course,”

On Monday, shares of Airtel Africa Plc traded flat at N715 per unit on the NGX.

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