Airtel Africa Plc has announced an agreement with minority shareholders, The Rise Fund and Mastercard, to defer the exercisable date of their put options in Airtel Mobile Commerce BV (Airtel Money) by 12 months.
The telecommunications and mobile money operator disclosed the update on Friday, stating that the extension was reached with both investors under existing option deeds.
The put options give The Rise Fund and Mastercard the right to sell their stakes in Airtel Money to Airtel Africa or its affiliates. According to the company, all other material financial terms of the agreements remain unchanged.
Airtel Africa, a leading provider of telecommunications and mobile money services across 14 African markets, said the decision reflects continued collaboration with its strategic partners in strengthening Airtel Money’s growth trajectory.
