Zambian Bourse Rejects Plan To Delist Airtel

On February 14 2011 the Lusaka Stock Exchange (LuSE) rejected a move by Bharti Airtel to delist Airtel Zambia, trading as Celtel Zambia on the LuSE, but did not give a reason. BMI is not surprised at the LuSE's decision considering the direct and indirect impact the delisting of Celtel Zambia will have on its operations. However, with Bharti Airtel having raised its shareholding to almost 97%, thereby exceeding the limit of a 95% stake by a single shareholder for companies listed on the exchange, the road to compromise may be long and acrimonious.

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