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Bharti Airtel mulls Africa business IPO

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Bharti Airtel mulls Africa company IPO

Bharti Airtel International (BAIN), a subsidiary of India-based Bharti Airtel which runs the business’s Africa operations, validated it was examining a potential IPO of the business.Netherlands-based BAIN, which runs cordless and mobile cash services in 14 countries throughout Africa, said in a regulative filing it would start”non-binding exploratory discussions”with various banks and intermediaries to evaluate the expediency of noting its shares on “a globally identified stock market.” It added conversations were at a preliminary phase and no last outcome had been chosen. The worth of the possible stake to be sold was undisclosed.The news follows a number of reports in current months questioning the future of Airtel’s operation in Africa. In December 2017, reports stated Airtel was set to exit three markets deemed unprofitable: Kenya, Rwanda and Tanzania. While he promptly rejected the rumours, Airtel chairman Sunil Bharti Mittal(imagined)confessed the business’s rushed entry into Africa in 2010 was among the most significant regrets of his expert life. In its newest financial statement– covering the 3 months to end-December– Airtel reported a 5 per cent year-on-year boost in profits for

its Africa service to $783 million.Featured Content Function: MWC18 Sneak Peek– In Numbers

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