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Bharti Airtel may sell 3% stake in Infratel

Airtel is reportedly weighing the sale to cut its net debt

Bharti Airtel, Airtel
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Anto Antony & George Smith Alexander | Bloomberg Mumbai
Bharti Airtel, India’s largest wireless carrier, is considering selling about a three per cent stake in its tower unit through an institutional share sale, people with knowledge of the matter said.

The New Delhi-based company could pare its holding in Bharti Infratel as soon as this month, according to the people, who asked not to be identified because the information is private. Airtel is weighing the sale to cut its net debt, one of the people said. The shares are worth about Rs 22.4 billion ($350 million) based on Tuesday’s closing price, data compiled by Bloomberg show.

Shares of Bharti Infratel fell