NEW DELHI, May 14 -- Bharti Airtel Ltd plans to raise its stake in Airtel Africa Plc to as much as 90% over the coming years, chairman Sunil Bharti Mittal said on Thursday, outlining a long-term capital allocation and ownership roadmap as he prepares for a generational transition within the group.

The comments came a day after Bharti Airtel announced a Rs.28,200 crore share-swap deal to acquire promoter-group entity Indian Continent Investment Ltd's (ICIL) 16.3% stake in Airtel Africa. In exchange, Airtel will issue about 146.7 million shares, representing a 2.4% stake in Bharti Airtel. The transaction will increase Airtel's holding in the Africa business to 79%.

"We will probably in the next several years get to that point of owning mo...