Bharti Airtel shareholders have voted in favor of plans for the Indian telco to expand its stake in its African subsidiary Airtel Africa.
In a stock exchange filing, Bharti Airtel noted that the "overwhelming majority" of its shareholders voted in favor of the deal.
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It comes after the telco giant confirmed plans last month to increase its stake in Airtel Africa, as part of a stock swap worth $2.9 billion. This will see Bharti grow its stake in Airtel Africa to 79 percent.
As part of the deal, Bharti is issuing equity shares to Indian Continent Investment Limited, a promoter group entity, on a preferential basis, in exchange for its 16.31 percent stake in Airtel Africa.
