Bharti Airtel Acquires Econet’s 4.2% Stake in Airtel Nigeria

India’s top carrier Bharti Airtel’s Netherlands arm has acquired 4.2% Econet Wireless shareholding in the Airtel Nigeria.

Earlier this month, Sunil Mittal-driven telco’s has reached settlement with Econet Wireless, and with this move, the telco’s holding in Airtel Nigeria has surged to 83.25%.

“Bharti Airtel International (Netherlands) BV through its wholly owned subsidiary (Airtel), has completed the acquisition of Econet Wireless Limited’s entire 4.2% shareholding in Airtel Nigeria, Bharti Airtel in a statement said.

The two— Bharti Airtel and Econet Wireless Limited, however, have already settled all claims and disputes, including Nigeria and Netherlands businesses.

After acquiring Zain's Telecom business in 2010, Airtel ran into a dispute with Econet Wireless— a minority stakeholder in Zain Telecom, and potentially facing payout claimed by Econet Wireless in its Nigerian unit.

Africa business has been an overhang on Bharti Airtel’s consolidated results with the continent yet to post a profit although the business appears to be stabilizing in the African countries.