Bharti Airtel Targets 79% Ownership in Airtel Africa Through $2.9 Billion Transaction

Bharti Airtel is moving to increase its ownership in Airtel Africa to 79 percent through a 282 billion-rupee ($2.9 billion) share transaction aimed at consolidating control over its fast-growing African operations.

The Indian telecom giant disclosed that its board approved the issuance of up to 146.8 million shares on a preferential basis to Indian Continent Investment, an investment vehicle associated with the family of billionaire businessman Sunil Mittal.

Under the arrangement, Bharti Airtel will acquire Indian Continent Investment’s 16.3 percent stake in Airtel Africa through a stock swap transaction.

The newly issued Bharti Airtel shares will be priced at 1,923 rupees each, representing a premium to the company’s recent market price, while the Airtel Africa shares involved in the transaction are being acquired at a discount to their prevailing valuation.

Upon completion of the transaction, Bharti Airtel’s Airtel Africa Mauritius entity will increase its stake in Airtel Africa from 62.7 percent to approximately 79 percent, subject to shareholder and regulatory approvals.

The company said the transaction aligns with its strategy of strengthening ownership in a key strategic subsidiary while improving long-term earnings potential.

Airtel Africa has emerged as one of the group’s strongest growth engines in recent years as rising mobile penetration, digital payments adoption and data demand continue to drive expansion across African markets.

The telecommunications company operates in 14 African countries, including Nigeria, Tanzania, Kenya, Uganda, Rwanda and Madagascar, providing mobile telecommunications and mobile money services to millions of subscribers.

For the financial year ended March 2026, Airtel Africa reported net profit of $813 million, more than double the previous year’s performance, while revenue rose 24 percent to $6.4 billion.

The company’s subscriber base also expanded by 10 percent to 185 million users during the review period, reinforcing Africa’s importance to Bharti Airtel’s long-term growth strategy.

Industry analysts said the proposed transaction demonstrates increasing confidence in the African telecommunications sector despite currency pressures, regulatory risks and macroeconomic challenges across several operating markets.

The move also reflects Bharti Airtel’s broader international expansion strategy beyond India as the Mittal family continues to diversify investments across telecommunications, satellite technology and digital infrastructure.

Apart from its African operations, the group also holds interests in UK-based satellite communications company OneWeb and recently expanded its exposure to the British telecom market through an investment in BT Group.

Bharti Airtel remains one of the world’s largest telecommunications operators with operations spanning Asia and Africa, competing against major rivals including Reliance Jio and Vodafone Idea in the Indian market.