Friday, 24 March, 2023

Singtel sells its 3.33% stake in Airtel to Bharti Telecom for $1.61B

<p>The promoter company of Bharti Airtel, Bharti Telecom, will pay Singapore&#39;s Singtel Rs 12,895 Cr ($1.61B) for a 3.33% stake in the business. Singtel&#39;s effective share in Bharti Airtel will decrease from its current 31.4% to 29.7% after the transaction. Its new position in Bharti Airtel will consist of a 10.5% direct share and a 19.2% indirect stake through BTL. The Mittal family&#39;s ownership of Bharti Airtel will increase from 22.34% to 25.64%.</p>