Airtel to sell 3.7% stake in Bharti Infratel

bharti-infratelBharti Airtel will sell 3.7% in its telecom tower business ( Bharti Infratel) to institutional investors. The share sale will happen at 0-5% discount to the last closing price (Rs398 per share). The shares will be sold in price range of Rs378-397.85 per share.
The 3.7% stake being sold at present, is from the portion that was parked with Nettle Infra. In March 2007, the company sold 10.3% stake in Bharti Infratel to a consortium of entities, including KKR and CPPIB, to raise Rs6,193.9 crore.

Filed in: Airtel, Telecom News, Telecom Operators Tags: , ,

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