Airtel Africa to sell 7.5% stake in mobile money unit to QIA for $200 million

Kolkata: Airtel Africa has inked a deal to sell roughly a 7.5% stake in its mobile money unit to Qatar Holding LLC, an affiliate of Qatar Investment Authority (QIA), for around $200 million.

This is the latest in a spate of fundraising activities by Sunil Mittal-led Bharti Airtel to cut its debt and invest in network.

Infusion by Qatar’s sovereign wealth fund will happen via Airtel Mobile Commerce BV (AMC BV), the holding company for several of Airtel Africa’s mobile money operations.