Don’t miss the latest developments in business and finance.

Qatar affiliate selling $1.46 billion stake in Bharti Airtel - term sheet

Image
Reuters MUMBAI
Last Updated : Nov 07 2017 | 6:57 PM IST

MUMBAI (Reuters) - An affiliate of Qatar Foundation Endowment will sell its 5 percent stake in Indian telecoms carrier Bharti Airtel Ltd for about 95 billion rupees ($1.46 billion) in block deals on Wednesday, according to a term sheet.

The affiliate, Three Pillars Pte Ltd, has put up about 199.9 million shares for sale in a price range of 473-490 rupees each, the term sheet showed.

The price range is a discount of 4.7-8 percent to the stock's Tuesday closing price of 514.35 rupees on the National Stock Exchange.

UBS is the handling the planned sale.

($1 = 64.9900 Indian rupees)

(Reporting by S. Anuradha of IFR, Writing by Devidutta Tripathy; Editing by Louise Heavens)

Also Read

First Published: Nov 07 2017 | 6:51 PM IST

Next Story