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Bharti Airtel subsidiary selling stake in Bharti Infratel for up to $400 mln - term sheet

Reuters  |  MUMBAI 

MUMBAI (Reuters) - Indian telecoms group Bharti Airtel Ltd has launched a sale of a 3.7 percent stake in tower arm Bharti Infratel Ltd for up to 25.52 billion rupees ($400 million), according to a deal term sheet.Nettle Infrastructure Investments Ltd, a subsidiary of Bharti Airtel, is selling the Infratel shares in a price range of 378 rupees to 397.85 rupees each, the term sheet said.The lower end of the price range is a 5 percent discount to the stock's closing price on Monday.JPMorgan and UBS are managing the share sale.As of end-June, Bharti Airtel and Nettle together owned 61.65 percent ...

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First Published: Mon, August 07 2017. 19:13 IST