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Bharti Airtel promoter to sell stake worth $1 billion in block deal on 26 May

Saichaitanya4496

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Bharti Telecom Ltd, promoter of Bharti Airtel, will sell $1 billion worth of stake in the mobile operator through a block deal on Tuesday, two sources in the know told Mint.



The block deal involving 2.75% stake sale would be conducted at around ₹558 per share, one of the sources said. The floor price marks a discount of around 6% to the company’s stock price.After the block deal, stake held by the promoters of Bharti Airtel—Bharti Telecom Ltd, Indian Continent Investment Ltd, Viridian Ltd and Pastel Ltd—will fall to 56.23% from 58.98%, as per information available on the NSE.



Bharti Airtel promoter to sell stake worth $1 billion in block deal on 26 May
 
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