Bharti Airtel plans to kick off IPO of $5-billion Africa phone unit

Bharti Airtel, India’s second-biggest wireless carrier, is preparing to kick off the initial public offering of its Africa unit in a deal that could raise about $1 billion, people familiar with the matter said.

Airtel Africa is planning to make a formal announcement about the London listing this month and aims to start trading in June, the people said, asking not to be identified because the matter is private. It’s considering seeking an equity valuation of about $5 billion, they said.

The IPO could be one of the biggest in London this year. The exchange’s lackluster domestic volumes are being boosted by