Airtel Africa Secures Court Sanction for Capital Redemption Reserve Cancellation

The High Court of England and Wales on Tuesday sanctioned the cancellation of Airtel Africa's (AAF.L) capital redemption reserve, according to a Wednesday release. The London-listed telecommunications company said additional distributable reserves will be created as a result of the capital reduction, which is expected to come into force upon the registration of the court order and the statement of capital by the Registrar of Companies. The reduction does not have any impact on the company's issued share capital.