After a Nigerian court ordered Bharti Airtel to reinstate Econet Wireless’ 5% stake in Bharti Airtel Nigeria, Bharti Airtel filed an appeal against the judgement.
“In light of the judgement by the Federal High Court of Nigeria regarding Econet Wireless Limited’s claim to the ownership of 5 per cent equity in Airtel Networks Ltd (Airtel Nigeria), an appeal against the said judgement has been filed by Airtel Nigeria,” Bharti Airtel said in a statement.
The company is confident that their appeal will be upheld and added that it has full faith in the rule of law.
“In addition, the judgement will have no impact on the equity holding of other shareholders in Airtel Nigeria. We wish to assure our customers, employees and business partners that the ruling will in no way affect our operations or the company’s ability to fulfill obligations to its stakeholders,” a Bharti Airtel spokesperson said in the statement.
Charlie Fripp – Online editor