Deals
Bharti Airtel Delays IPO of $8 Billion Africa Business
- Bharti is said to push back share sale by about half a year
- Company says preparations on track, remains ‘very confident’
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Bharti Airtel Ltd., India’s second-biggest wireless carrier, is delaying a planned initial public offering of its Africa unit due to the turmoil in emerging-market stocks, people with knowledge of the matter said.
The company, which was originally aiming to list the unit in London by March, has pushed back the share sale by about half a year, according to the people. It plans to seek an enterprise value of about $8 billion for the Africa business, the people said, asking not to be identified because the information is private.