Indian industry shift helps Bharti Infratel block

Bharti Airtel sold another stake in its tower business on the back of the dynamic changes in India's telecommunications sector, raising $402 million despite muted ECM conditions.

India’s largest telecommunications company Bharti Airtel sold a small chunk of its stake in tower subsidiary Bharti Infratel late on Monday, raising Rp25.6 billion $402 million to help fund increased capital spending this year as it battles with increased competition at home.

New Delhi-headquartered Bharti Airtel sold 67.5 million shares, or 3.7% of Bharti Infratel’s existing share capital, through its investment vehicle Nettle Infrastructure Investments, leaving both with a combined 58% stake in the tower company. It is the second time this year that Bharti Airtel has divested a stake in its tower business, having sold a 10.3% stake to Canada Pension Plan Investment...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222