Singtel to promote 2-4% stake in Bharti Airtel to Sunil Mittal household

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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 be capable of generate near Rs 7,500 crore on sale of its 2 per cent stake.
“The dialogue is occurring between Singtel and Mr Mittal. Singtel is seeking to promote 2-4 per cent stake in Bharti Airtel to Mr Mittal,” a supply who didn’t want to be recognized informed PTI.
The supply, nonetheless, didn’t disclose whether or not the transaction will happen in Bharti Airtel or Bharti Telecom.
An e-mail despatched to Bharti Airtel looking for 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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