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The Times of India

Business

Agencies

Bharti co to buy Rs 13,000 crore Airtel stake from Singtel

Singtel Airtel Bharti Telecom Sunil Bharti Mittal Bharti Airtel New Delhi

NEW DELHI: Bharti Airtel promoter Bharti Telecom will buy a 3.3% Airtel stake from Singtel (Singapore Telecommunications) for about Rs 12,895 crore in 90 days, the telecom operator said on Thursday. Bharti Group chairman Sunil Bharti Mittal’s family and Singtel are co-investors in Bharti Telecom.

Singtel said that after the transaction, the group is expected to own an effective stake of 29.7% in Airtel, which is estimated to be worth about Rs 1.26 lakh crore.

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