Hometelecom News

    Singapore-based Singtel to sell 2-4% stake in Bharti Airtel to Sunil Mittal family

    Singapore-based Singtel to sell 2-4% stake in Bharti Airtel to Sunil Mittal family

    Singapore-based Singtel to sell 2-4% stake in Bharti Airtel to Sunil Mittal family
    Profile image

    By PTI  IST (Updated)

    Mini

    "The discussion is going on between Singtel and Mittal. Singtel is looking to sell 2-4 percent stake in Bharti Airtel to Mittal," a source who did not wish to be identified told PTI.

    Singapore-based telecom firm Singtel is in talks with Bharti Airtel chairman Sunil Mittal to sell its 2-4 percent stake in the company, a source aware of the development said on Thursday.
    As per market capitalisation, Singtel will be able to generate close to Rs 7,500 crore on the sale of its 2 percent stake.
    "The discussion is going on between Singtel and Mittal. Singtel is looking to sell 2-4 percent stake in Bharti Airtel to Mittal," a source who did not wish to be identified told PTI.
    Also Read:
    The source, however, did not disclose whether the transaction will take place in Bharti Airtel or Bharti Telecom.
    An e-mail sent to Bharti Airtel seeking comments did not elicit any response. Singtel's effective stake in Bharti Airtel is 31.7 percent. It holds a 49.44 percent stake in Mittal family-owned firm Bharti Telecom.
    Bharti Telecom holds a 35.85 percent in Bharti Airtel.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    arrow down

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng