Airtel Africa leaps as Indian parent Bharti says it plans to increase stake

Airtel Africa PLC (LSE:AAF) shares leapt over 16% to 426.6p on Monday afternoon after majority shareholder Bharti Airtel said it planned to reorganise subsidiary holdings, including the FTSE 100 telecoms business.  In an exchange filing, the Indian telecoms giant said that at a scheduled meeting on 13 May, the board will reorganise its shareholdings, which is likely to result in the consolidation of shares of subsidiaries.