ICIL sells 51.1 million shares of Bharti Airtel (India)
Bharti Airtel’s promoter entity, Indian Continent Investment Limited (ICIL) has divested 51.1 million shares of Bharti Airtel at an average price of Rs 1,660 per share. This sale accounts for approximately 0.84 per cent (Rs 84.85 billion) of Bharti Telecom Limited’s stake. Before the transaction, ICIL held a 3.31 per cent stake in Bharti Airtel, valued at over Rs 201.3 million. Among key buyers, Vanguard International Value Fund acquired 1.7 million shares at Rs 1,660 per share, while WhiteOak India Equity Fund VI purchased more than 0.104 million shares. Bharti Telecom Limited, a promoter of Bharti Airtel, bought over 12 million shares through this deal, increasing its stake in Bharti Airtel to approximately 40.5 per cent.
Airtel to acquire an additional 5 per cent stake in Africa unit
Airtel has announced plans to acquire up to an additional 5 per cent stake in its Africa unit during FY2025 through one or multiple all-cash transactions. Currently, Airtel holds a 57.29 per cent stake in Airtel Africa plc through its subsidiary, Airtel Africa Mauritius Limited. The company stated that the acquisition will be executed for a cash consideration and priced in compliance with applicable regulations. Further, the transaction is expected to be completed by the end of March 2025. Based on Airtel Africa’s current market capitalisation of £5.07 billion (approximately Rs 555.41 billion), a 5 per cent stake would be valued at around Rs 27.77 billion.
Airtel transfers its stake in Airtel Payments Bank to Airtel Limited
Bharti Airtel has transferred its 69.94 per cent stake in Airtel Payments Bank to Airtel Limited as part of an internal shareholding restructuring exercise, which falls under related party transactions and will be done at a distance. In addition, Airtel may launch an initial public offering (IPO) of the payments bank in the next few years as part of a regulatory mandate.
AfDB approves $160 million loan to Axian Telecom for expansion (Madagascar)
The African Development Bank (AfDB) has approved a $160 million loan to Axian Telecom to facilitate the upgrade of its nine African subsidiaries and support the bank’s expansion into new markets. As per the AfDB, the senior corporate loan will expedite the modernisation and scaling of Axian’s 4G and 5G infrastructure, while fuelling the operator’s broader growth aspirations. In line with its commitment to financial inclusion, Axian has pledged $10 million to empower 22,000 women entrepreneurs in Madagascar through its Mvola mobile money platform. Additionally, the operator will allocate a $2.5 million grant to boost financial literacy and credit access for 34,000 women-led businesses across Madagascar, Tanzania and Senegal, enabling them to grow and transition into the formal economy.
Frogfoot buys American Tower’s fibre business in South Africa (South Africa)
Fibre network operator Frogfoot has announced its acquisition of American Tower Corporation (ATC) Africa’s fibre assets in South Africa. ATC has been a Frogfoot partner since 2017 and currently manages more than 2,600 tower sites and 11,000 km of fibre optic infrastructure in the country. It also offers site acquisition, engineering and construction services. According to Frogfoot, the transaction demonstrates its commitment to sustainable growth and high quality network investment. The company stated that this move is a natural extension of the two companies’ long-standing partnership and underscores Frogfoot’s dedication to delivering reliable service to customers. Further, the acquisition will not affect existing customer services.
e& exits Khazna Data Centres with $2.2 billion stake sale (UAE)
The UAE-based telecom operator e& has announced the sale of its 40 per cent stake in Khazna Data Centres to a joint venture partner, G42, for $2.2 billion. The deal will generate a capital profit of $1.4 billion (pre-tax), which e& plans to use for debt repayment. According to e&, the decision to exit Khazna aligns with its “asset monetisation” strategy, allowing the operator to refocus on core businesses. After the transaction, e& will continue collaborating with Khazna as both a strategic partner and a major tenant. Khazna was formed in 2021 by merging e&’s and G42’s data centre assets, creating what was then the UAE’s largest data centre provider with around 300 MW of capacity. G42 initially held a 60 per cent stake. The transaction is slated to close by the end of the first quarter of 2025, after which MGX and Silver Lake will become minority shareholders in Khazna.
Khazanah Nasional to acquire INCJ’s stake in the Edotco Group (Malaysia)
Khazanah Nasional Berhad, Malaysia’s sovereign wealth fund, plans to acquire Innovation Network Corporation of Japan’s (INCJ’s) stake in the Edotco Group, a leading telecom tower company. Khazanah already holds a significant telecom presence, with a 37 per cent stake in the Axiata Group, which owns 63 per cent of Edotco and a direct 11 per cent stake in Edotco. Headquartered in Kuala Lumpur, Edotco manages over 55,000 towers across Malaysia, Indonesia, Bangladesh and other markets. Further, the deal aligns with INCJ’s investment mandate, which concludes in March, ensuring a smooth transition of the ownership.
