Bharti Airtel picks banks for London flotation of Africa business – sources

14th September 2018

By: Reuters

  

Font size: - +

India's biggest mobile carrier Bharti Airtel has chosen UBS, JP Morgan and Citi to coordinate the London initial public offering of its Africa business, two sources familiar with the matter said.

In February Bharti Airtel said the holding company for its Africa operations was looking at a potential IPO. The appointment of banks for a London listing is a sign the process is progressing.

Bharti Airtel and the banks declined to comment. The company has not given a timeframe for the listing to happen.

The sources declined to comment on the valuation of the Africa operations but the business represents just over a quarter of the revenue of the listed entity, which has a $20 billion market capitalisation.

Bharti Airtel owns telecom assets in 14 African countries. In the quarter ending June 2018, Africa revenue was 201-billion Indian rupees ($2.8-billion) and earnings before interest, taxes, depreciation and amortisation (Ebitda) were 68-billion rupees.

Globally the company has almost 460-million customers. In the quarter ending June 2018, it posted revenue of $3-billion with Ebitda of more than $1-billion.

Edited by Reuters

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION