Bharti Airtel could raise another $3.5 billion from stake sale: Moody's

Bharti Airtel could raise another $3.5 billion from the sale of a significant stake in the Indus Towers- Bharti Infratel entity (soon to be merged), said Moody’s. Coupled with the recent rights issue and the initial public offering of its Africa business, Moody’s felt this would help bring its debt-to-Ebitda, or leverage, ratio below 3.5 times by March 2020.

“We expect Bharti to ultimately sell a significant stake in the tower company formed from the merger of Infratel and Indus Tower Limited, although it may retain a minority stake,” ratings agency Moody’s said adding that it was a hypothetical scenario and