You are here: Home » Reuters » News
Business Standard

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


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. 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 ...

This article is no longer available in our repository.

There could be multiple reasons for this.

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