Friday, August 12, 2022
HomegooglenewsSingtel to sell 2-4% stake in Bharti Airtel to Sunil Mittal family

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

Singapore-based telecom firm Singtel is in talks with Bharti Airtel chairman Sunil Mittal to sell its 2-4 per cent 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 sale of its 2 per cent stake.

“The discussion is 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 who did not wish to be identified told PTI.

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 per cent. It holds a 49.44 per cent stake in Mittal family owned firm Bharti Telecom.

Bharti Telecom holds a 35.85 per cent in Bharti Airtel. PTI PRS ANZ HVA

To stay updated with the latest Stock Market news, download our app here!

For editorial purposes, contact [email protected]

Disclaimer: The Stocks mentioned on this website or any segment are not recommendations. Tradebrains.in advises users to check with certified experts before taking any investment decisions.

Html code here! Replace this with any non empty raw html code and that's it.
AUTO
MOBILE
TECH NEWS

Entertainment

Most Popular