Bharti Airtel raises stake in Nigeria unit by 13.36 per cent

Bharti Airtel's wholly-owned Nigerian subsidiary has acquired 13.36 per cent additional stake in Nigeria's Airtel Networks, which holds licence for providing mobile services.

Airtel Network holds telecom licence to provide services in Nigeria.

"Bharti Airtel Limited has announced that its wholly-owned subsidiary, Bharti Airtel Nigeria B.V., has acquired an additional (around) 13.36 equity stake in Airtel Networks Limited, Nigeria from certain existing shareholders," Bharti Airtel said in a statement.

Financial details of this transactions were, however, not disclosed by the company.

"With this acquisition, Bharti Airtel Nigeria B.V. now owns 79.06 per cent equity stake in Airtel Networks Limited, Nigeria," it added.

With inputs from PTI