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Bharti Airtel sells $508 million stake in tower arm Bharti Infratel

Reuters 

REUTERS - Top Indian mobile carrier Bharti Airtel Ltd said on Tuesday it sold part of its holdings in mobile masts arm Bharti Infratel Ltd for 33.25 billion rupees ($507.52 million) in a bid to reduce debt.Bharti Airtel's unit Nettle Infrastructure Investments Ltd sold 83 million shares in Bharti Infratel at 400.6 rupees each in stock market transactions, a discount of 3.6 percent to Monday's closing price. http://bit.ly/2jnJ6ifGlobal investors, fund managers and long-only investors bought the shares, Bharti Airtel said, adding that the deal was upsized by more than 25 percent.Following the ...

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First Published: Tue, November 14 2017. 12:07 IST
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