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    HomeNewsBusinessCompaniesBharti Airtel to sell 5% stake to Qatar Foundation

    Bharti Airtel to sell 5% stake to Qatar Foundation

    Bharti Airtel Ltd, India's top telecommunications carrier, said on Friday it would sell a 5 percent stake in the company to Qatar Foundation Endowment for USD 1.26 billion to strengthen the capital structure of the company.

    May 03, 2013 / 09:30 IST

    Bharti Airtel Ltd, India's top telecommunications carrier, said on Friday it would sell a 5 percent stake in the company to Qatar Foundation Endowment for USD 1.26 billion to strengthen the capital structure of the company.

    Also read: RBI may be more dovish; 25bps repo cut seen: CNBC-TV18 Poll

    Bharti will issue 199.9 million new shares to Qatar Foundation Endowment at 340 rupees apiece, the company said in a statement.

    The issue price represents a 7.3 percent premium to the stock's Thursday closing price.

    first published: May 3, 2013 09:30 am

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