Singtel to invest Rs 26.5 bn in Bharti Telecom, ups stake to 48.9%

The relief package for telecom operators is expected to be placed before the Union Cabinet shortly

Singapore-based Singtel will invest Rs 26.49 billion in Bharti Telecom, lifting its stake to 48.90 per cent in the parent company of country's top mobile operator Bharti Airtel.

The investment, which will be made through preferential allotment of shares expected to be completed by March this year. As a result of its investment in Bharti Telecom, Singtel's stake in Bharti Airtel will increase by 0.9 percentage points to 39.5 per cent.

Singtel currently holds 47.17 per cent stake in Bharti Telecom whereas Bharti Enterprises, run by Sunil Bharti Mittal, hold over 50 per cent stake in the company. The funds raised will