economy
Indian telecom major Bharti Airtel is doubling down on Africa venture, UK's BT
Indian telecom giant Bharti Airtel is raising its stake in British and African ventures as it hunts for growth overseas
TL;DR
- Bharti Airtel plans to increase its stake in Airtel Africa to 79% from 62.7% through a cashless share-swap deal valued at $2.9 billion.
- Africa is considered a high-growth potential market for Bharti Airtel, contributing over a quarter of its consolidated revenue.
- The company also intends to raise its stake in BT Group to just under 30% from 24.95% for increased economic exposure, not a full takeover.
- These overseas investments align with a broader trend of Indian corporates expanding their global footprints, with overseas investments by Indian companies significantly rising.
- Bharti Airtel's investments in Africa and BT have shown positive returns, with Airtel Africa shares rising over 78% and BT shares up 55% since Bharti's investment.