New Delhi: Singapore based telecom firm singletel chatting with Bharti Airtel President Sunil Mittal To sell his 2-4 per cent stake in the company, a source familiar with the development said on Thursday. By market capitalization, Singtel will be able to raise around Rs 7,500 crore through the sale of its 2 per cent stake.
“Discussions are going on between Singtel and Mr. Mittal. Singtel is looking to sell 2-4 per cent stake in Bharti. Airtel To Mr Mittal,” a source told PTI on condition of anonymity.
However, the source did not disclose whether the transaction would take place in Bharti Airtel. Bharti Telecom,
An e-mail sent to Bharti Airtel seeking comment did not elicit any response.
Singtel has an effective stake of 31.7 per cent in Bharti Airtel. It holds 49.44 per cent stake in Mittal family-owned firm Bharti Telecom.
Bharti Telecom holds 35.85 per cent stake in Bharti Airtel.
“Discussions are going on between Singtel and Mr. Mittal. Singtel is looking to sell 2-4 per cent stake in Bharti. Airtel To Mr Mittal,” a source told PTI on condition of anonymity.
However, the source did not disclose whether the transaction would take place in Bharti Airtel. Bharti Telecom,
An e-mail sent to Bharti Airtel seeking comment did not elicit any response.
Singtel has an effective stake of 31.7 per cent in Bharti Airtel. It holds 49.44 per cent stake in Mittal family-owned firm Bharti Telecom.
Bharti Telecom holds 35.85 per cent stake in Bharti Airtel.