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Bharti Airtel to sell 5% stake to Qatar Foundation

2013-05-03 09:23:00| Telecompaper Headlines

(Telecompaper) Indian mobile operator Bharti Airtel will sell a 5 percent stake for USD 1.26 billion to the Qatar Foundation Endowment, Bloomberg reported. Bharti said it will issue 199.9 million new shares at INR 340 each, or 7.3 percent more than the closing price on 2 May the day before the announcement. Bharti raised USD 1.5 billion in March to help fund USD 2.3 billion of capex in the quarter.

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