CELTEL SHARES BAN LIFTED

The Lusaka Stock Exhange has formally lifted the suspension of trade in Celtel Zambia PLC shares.

The LuSE board’s decision follows Bharti Airtel Zambia’s application to have the suspension lifted, the mobile phone company’s withdrawal of the compulsory share acquisition notice.

On 18^th February 2011, Bharti Airtel, the majority shareholders in Celtel Zambia, circulated a notice of compulsory share acquisition to minority shareholders in the company.

The notice was based on the Indian-owned company’s acquisition of a majority stake in Celtel Zambia, from ZAIN.

And in a statement, the Lusaka bourse has explained that the lifting of the suspension means trade in Celtel shares on the Lusaka Stock Exchange resumes on 1^st August 2012.

Bharti Airtel Zambia Holdings had sort for the lifting of the suspension of trade in Celtel shares on the LuSE.