* Aims to keep local unit listed

* Offering to buy minority shares to meet local regulation

(Adds background on Zambia securities law, bourse regulation)

By Chris Mfula

LUSAKA, Nov 22 (Reuters) – Bharti Airtel (BRTI.BO: Quote) does not
want its Lusaka-listed Celtel Zambia (CELZ.LZ: Quote) unit to delist
the head of the Indian telecom’s international business told
Reuters on Monday.

Bharti, which owns about 78 percent of Celtel Zambia, on
Friday offered minority shareholders 710 kwacha ($0.152) per
share, to meet a local law which says minorities must be given
the chance to sell up when the majority owner changes.

The offer price represents a 6 percent premium on the firm’s
last traded price of 670 kwacha in June when trading was
suspended.

Bharti acquired the African telecoms assets of Kuwaiti group
Zain (ZAIN.KW: Quote) in a $9 billion deal in June, giving it access to
what it says is the “biggest future continent” for telecoms, and
making it the world’s fifth-biggest mobile operator.
[ID:nLDE6AI17B]

Manoj Kohli, chief executive of its international business,
said he did not expect many minority shareholders to sell.

  Continued…