Qatar Investment Authority invests $200 mn in Airtel Africa

Qatar Investment Authority invests $200 mn in Airtel Africa

Bharti Airtel on Thursday said the Qatar Investment Authority (QIA) has completed the proposed investment of $200 million in Airtel Africa, a subsidiary of the telecom major.

The proceeds of the deal would be used to reduce Airtel Africa's existing debt, the company said in a regulatory filing at the BSE.

"Upon receipt of full issue proceeds of $200 million, the said primary equity issuance by Airtel Africa Limited, UK has now been completed," it said.

The investment from QIA is in continuation of the recent $1.25 billion investment by six leading global investors including Warburg Pincus, Temasek, Singtel and SoftBank Group International. 

The latest transaction would not involve any sale of shares by existing shareholders, Airtel Africa said.

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Source: IANS