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

As per market capitalisation, Singtel will be able to generate close to Rs 7,500 crore on sale of its 2 per cent stake.

Airtel Singtel
Singtel's effective stake in Bharti Airtel is 31.7 per cent. (File)

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.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

Most Read In Industry
Photos