Singtel to sell 2-4% stake in Bharti Airtel to Sunil Mittal family – Times of India

NEW DELHI: Singapore-based telecom agency Singtel is in talks with Bharti Airtel chairman Sunil Mittal to promote its 2-4 per cent stake within the firm, a supply conscious of the event stated on Thursday. As per market capitalisation, Singtel will have the ability to generate near Rs 7,500 crore on sale of its 2 per cent stake.
“The dialogue is happening between Singtel and Mr Mittal. Singtel is trying to promote 2-4 per cent stake in Bharti Airtel to Mr Mittal,” a supply who didn’t want to be recognized advised PTI.
The supply, nevertheless, didn’t disclose whether or not the transaction will happen in Bharti Airtel or Bharti Telecom.
An e-mail despatched to Bharti Airtel in search of feedback didn’t elicit any response.
Singtel’s efficient stake in Bharti Airtel is 31.7 per cent. It holds a 49.44 per cent stake in Mittal household owned agency Bharti Telecom.
Bharti Telecom holds a 35.85 per cent in Bharti Airtel.

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