Bharti Airtel to increase stake in Airtel Africa (subsidiary) Bharti has 57.3% stake in Airtel Africa Plans to acquire upto 5% additional stake in Airtel Africa Airtel Africa market capitalisation is GBP 5.1 billion – Rs 55000 cr 5% stake purchase at CMP implies cash outflow of Rs 2500 cr Airtel Africa share price has jump 46% in past one year Bharti did Airtel Africa IPO in June 2019 at 70 pence Vs CMP of 138 pence Airtel Africa has dividend payout policy (including buyback) of 85% FCF Bharti Airtel is yet to come up with dividend policy Dividend policy is critical for visibility on capital allocation & rewarding investors, as per analysts This is key for holding/rerating valuation for Bharti Airtel, as per analysts