 "Singtel")
Singapore-based telco Singtel is expected to sell Bharti Airtel shares worth $1 billion (₹8,568 crore) on Friday through a scheduled block deal, sources said on Thursday. Singtel is looking to sell 47.6 million shares at a floor price of ₹1,800 per share, they added.
The floor price represents a 3.3 per cent discount to the current market price of Bharti Airtel’s stock. JP Morgan is likely to be the broker for the deal.
Airtel shares rose 1.58 per cent to ₹1,863.1 in intraday trading on Thursday.
Currently, Singtel holds a direct 9.5 per cent stake in Bharti Airtel through its
