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Bharti Airtel’s promoters to acquire additional six per cent stake in the company

February 23, 2016
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The promoters of Bharti Airtel – the Mittal family and Singapore Telecommunications (SingTel), are looking to acquire an additional six per cent stake in the company. The move is aimed at strengthening the company's share price, which has declined 11 per cent over the past six months.

The promoters will acquire the additional six per cent stake through Bharti Telecom, which holds 43.96 per cent stake in Bharti Airtel. The acquisition will be enabled by the infusion of Rs 25 billion equity capital into Bharti Telecom through a rights issue. Upon completion of the transaction, Bharti Airtel will become a subsidiary of Bharti Telecom.

At present, SingTel owns a 40 per cent stake in Bharti Telecom, the Mittal family own 51 per cent, Temasek owns seven per cent and the rest is owned by other companies.

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