In a regulatory filing, Singapore Telecommunications Limited (Singtel) has informed that it has concluded its planned sale of a 3.33 per cent stake in Bharti Airtel for around $1.76 billion (approximately Rs 144 billion). Singtel further noted that Bharti Telecom Limited (BTL) has acquired around 3.2 per cent of sold stake, while the rest was bought by the public.
The deal was executed by Singtel subsidiaries, Pastel Limited and Viridian Limited. The two subsidiaries have collectively sold and transferred an aggregate of 198 million shares of Bharti Airtel, representing approximately 3.33 per cent of the total number of equity shares of Airtel.
Meanwhile, post-the above transaction, the effective stake of BTL in Airtel stands at 38.62 per cent, from 35.4 per cent earlier.
