Bharti Telecom chairman Sunil Mittal says the group should regain majority control of Bharti Airtel, after years when foreign and strategic investors diluted its dominance. Speaking to analysts, he backed a ₹28,220 crore share-swap with ICIL, which is expected to lift the Mittal family’s stake while narrowing the gap with Singtel. Bharti Telecom also plans to expand its ownership in Airtel Africa, potentially topping 78% and aiming for up to 90%, supported by buybacks and future consolidation.
Bharti Airtel’s board has approved a cashless ₹28,220 crore share-swap with ICIL, a Mittal family entity, to raise Airtel Africa’s stake to 79%. By avoiding cash outflow, the deal preserves Airtel’s liquidity, increases ICIL’s holding in Bharti Airtel, and is expected to be accretive to earnings per share.
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Fourteen years after Airtel acquired Zain Telecom’s African assets, Sunil Mittal’s review of Airtel Africa’s journey is back in focus. The Prime piece asks whether the long-term bet has delivered the right outcomes for users, markets, and shareholders across multiple countries—highlighting how far the telecom operator has come since the landmark deal.
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