Airtel Africa surges as shareholder Bharti Airtel considers raising stake

(Sharecast News) - Airtel Africa shares surged on Monday after Bharti Airtel - which has a 63% stake in the company - convened a meeting for 13 May to consider a reorganisation of its subsidiaries' shareholding structure, including Airtel. The Indian telecoms company said the reorganisation of the shareholding framework could involve consolidation or acquisition of shares in its subsidiaries.

At 1240 BST, Airtel Africa shares were up 15% at 422.22p.