89651 Investors following Bharti Airtel. Share this News with them.
0
Like this story, share it with millions of investors on M3
Vodafone may sell Bharti Airtel stake
Vodafone may sell its 4.4% stake in Bharti Airtel, a media report said on Monday, although a senior telecoms banker said he was not aware of any sales process launching imminently.
Vodafone may sell its 4.4% stake in Bharti Airtel , a media report said on Monday, although a senior telecoms banker said he was not aware of any sales process launching imminently.
The Business Standard reported that Vodafone could sell the stake in India's leading mobile operator, which is valued at around Rs 5200 crore (USD 1.1 billion), as part of its plan to get out of minority investments in companies across the world.
Vodafone, the world's largest mobile operator by revenue, declined to comment on the report but a telecoms banker who asked not to be named said he was not aware of any sale mandate.
Bernstein analyst Robin Bienenstock said she also did not expect an easy or imminent sale.
"It is pretty illiquid," she told Reuters. "We value the stake at 707 million pounds (USD 1.1 billion) but we do not put it in our sum of the parts because realising the value is extremely difficult with only one buyer."
Officials at Bharti could not immediately be reached for a comment.
Vodafone bought a 10% stake in Bharti in 2005 for around USD 1.5 billion. It then sold half of the stake after the British firm entered into a tie-up with India's Essar Group.
Vodafone said last week it could reconsider its strategy following investor complaints, prompting speculation it would look to sell or spin off its minority stakes in countries including France, the United States and China.
