In a $1.61 billion transaction, Bharti Telecom buys 3.33% of Airtel’s shares from Singtel


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3.33% of Bharti Airtel will be sold by Singapore Telecommunications (Singtel) to Bharti Telecom (BTL), Bharti Airtel’s promoter, for SGD2.25 billion.

Singtel’s effective ownership in Bharti Airtel will decrease after the sale to 29.7% (from 31.4% currently) and be worth approximately S$22 billion ($15.8 billion). A 19.2% indirect interest through BTL and a 10.5% direct stake will make up its smaller position in Airtel. Currently, the Mittal family has a direct and indirect 23.88% ownership stake in Airtel.

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