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Qatari investor selling $1.5 billion stake in Bharti Airtel, stock down 6%

Three Pillars Pte Ltd, an affiliate of the Qatar Foundation, has put up for sale through stock market transactions about 199.9 million shares in Bharti Airtel

Reuters  |  Singapore/Mumbai 

A Qatari investor is selling a 5 per cent stake in top Indian telecoms carrier Bharti Airtel on Wednesday for about Rs 9,500 crore ($1.46 billion), adding to the sanctions-hit Gulf nation's recent stake sales in foreign companies. Three Pillars Pte Ltd, an affiliate of the Qatar Foundation, has put up for sale through stock market transactions about 199.9 million shares in Bharti Airtel in a price range of Rs 473-490 each, according to a deal term sheet seen by Reuters on Tuesday. The price range indicates a discount of 4.7-8 per cent to Bharti Airtel's Tuesday closing ...

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First Published: Wed, November 08 2017. 14:31 IST