Bharti Telecom to sell $1 bn stake in Airtel through block deal
Bharti Telecom is selling upto $1 billion of its shares in Bharti Airtel through a secondary market block deal on Tuesday. Bharti Telecom is the holding company of Bharti Airtel. Bharti Telecom holds 38.79 per cent equity stake in Bharti Airtel which will reduce by upto 2.75 per cent after the block deal.
Singapore Telecom is a strategic partner with Bharti Airtel, J P Morgan is the placement agent for the transaction. Source: Reuters