Bharti Airtel loses Nigeria court case, faces $3 bn payout loss

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Bharti Airtel, a 79.06% shareholder in Airtel Networks Ltd, Nigeria (Airtel Nigeria) is not satisfied with the judgement. (Reuters) Bharti Airtel, a 79.06% shareholder in Airtel Networks Ltd, Nigeria (Airtel Nigeria) is not satisfied with the judgement. (Reuters)
SummaryBharti Airtel has lost a court case in Nigeria, faces huge payout to Econet Wireless over stake.

Wireless Ltd's shares in the company, deletion of its name from the register of shareholders and change of name to Vee Mobile Networks.

On 24 January 2012, the Federal High Court of Nigeria ruled that Econet's shareholding in the company must be reinstated, according to the company's website.

It added that the judgement also said the name of the company, now Bharti Airtel Nigeria, should revert to Econet and all decisions in which it was entitled to participate as a shareholder but was prevented from doing so, are null and void. PTI PRS ANZ JC 02202017

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