Bharti Airtel to sell over 5 per cent stake in telecom tower unit: Report

By: |
Mumbai | April 20, 2016 3:42 PM

Bharti Airtel owns a 71.7 per cent stake in Bharti Infratel, and a 5 per cent stake sale in the unit would be worth Rs 3748 crore based on current valuations.

Bharti AirtelBharti Airtel owns a 71.7 per cent stake in Bharti Infratel, and a 5 per cent stake sale in the unit would be worth Rs 3748 crore based on current valuations. (Photo: Reuters)

Bharti Airtel will sell more than 5 per cent stake in its tower arm Bharti Infratel through an open market block deal, a business TV channel reported citing sources.

Bharti Airtel owns a 71.7 per cent stake in Bharti Infratel, and a 5 per cent stake sale in the unit would be worth Rs 3748 crore based on current valuations.

Airtel plans to use the sale proceeds to cut debt, the TV channel reported.

The report did not give a timeline for the planned sale.

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