Tanzanian govt opposes Bharti Airtel's plan for IPO in international market

Just a few days ago Bharti Airtel announced it was getting six marquee investors to put $1.25 billion in its fully owned subsidiary

The Tanzanian government, a 40 per cent shareholder in joint venture Airtel Tanzania, has opposed Bharti Airtel’s plan for an initial public offering in an international market for its African business.

The Indian company holds the balance in the joint venture.

A statement of the treasury registrar of the government, reported in local newspapers, said it did not recognise the plan to invite new shareholders in the holding company Airtel Africa, in which the Tanzanian joint venture is a subsidiary. 

The Tanzanian government has said, as a shareholder, it should have been involved in a decision to sell shares and