Mumbai, Feb 05, 2018
Telecom Bharti Airtel said that Singapore
Telecommunications (Singtel), Asia’s leading communications and ICT
solutions group and a long-term partner of Airtel will invest
Rs 2649 crore in Bharti Telecom, the promoter company of Airtel
through preferential allotment of shares.
The transaction is subject to the shareholders’ approval of Bharti
The funds raised will be used towards debt reduction,
Bharti Airtel said in a filing with BSE.
With this investment, Singtel’s total stake (along with its
affiliates) in Bharti Telecom will increase to 48.