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Bharti Airtel to Boost African Subsidiary Stake in $2.9 Billion Share Swap

Bharti Airtel Ltd. will increase its ownership stake in its African subsidiary through a $2.9 billion share swap transaction. The India-based telecommunications company aims to strengthen its position in the UK-listed unit before pursuing a separate initial public offering of the subsidiary's mobile-money division. The planned IPO will separate the mobile-money business from traditional telecom services.