A Qatari investor has sold a 5 percent stake in Indian operator Bharti Airtel for about INR 95 billion. Three Pillars Pte, an affiliate of the Qatar Foundation, sold about 199.9 million shares in Bharti Airtel on the open market, the company confirmed in a stock market filing.
According to Reuters, the shares were sold at a small discount, in a price range of INR 473-490 each. Airtel's last closing price on 07 November was INR 514.35.
The news follows a disclosure by Bharti Airtel that its largest shareholder has increased its stake in the company. Bharti Telecom acquired earlier this month 184.7 million shares or a 4.62 percent stake from Indian Continent Investments. This increases its stake in Bharti Airtel to 50.10 percent.
