Bharti Airtel to sell 5 per cent stake to Qatar Foundation for $1.3 billion

Bharti Airtel is going to sell 5 per cent stake to Qatar Foundation Endowment (QFE) for $1.26 billion by issuing 199,870,006 new shares.

As per the agreement between the two parties, QFE will subscribe to the new shares at Rs 340 per share. The investment will further help Bharti Airtel strengthen its capital structure and provide flexibility to deliver on the company growth strategy. Further, the deal will provide QFE exposure to a high growth sector in key emerging markets.

Goldman Sachs acted as the financial advisor to QFE for the investment deal.