Singapore-based telecom firm Singtel is in talks with Bharti Airtel chairman Sunil Mittal to sell its 2-4 percent 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 the sale of its 2 percent stake.
"The discussion is going on between Singtel and Mittal. Singtel is looking to sell 2-4 percent stake in Bharti Airtel to Mittal," a source who did not wish to be identified told PTI.
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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 percent. It holds a 49.44 percent stake in Mittal family-owned firm Bharti Telecom.
Bharti Telecom holds a 35.85 percent in Bharti Airtel.
First Published: May 26, 2022 3:20 PM IST
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