Bharti Airtel sells $508 million stake in tower arm Bharti Infratel
Top Indian mobile carrier Bharti Airtel Ltd
Bharti Airtel`s unit Nettle Infrastructure Investments Ltd sold 83 million shares in Bharti Infratel at 400.6 rupees each in stock market transactions, a discount of 3.6 percent to Monday`s closing price. http://bit.ly/2jnJ6if
Global investors, fund managers and long-only investors bought the shares, Bharti Airtel said, adding that the deal was upsized by more than 25 percent.
Following the stake sale, Bharti Airtel and its units own 53.5 percent of Bharti Infratel.
J.P. Morgan, UBS and Goldman Sachs handled the share sale.
($1 = 65.5150 Indian rupees)
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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