Singtel offloads 1.2% stake in Airtel
Singtel on Friday said it has sold about 1.2 per cent of its direct stake in Bharti Airtel for SGD 2 billion (roughly USD 1.5 billion) in sync with its active capital management approach to optimise its asset portfolio and drive shareholder returns.
According to the bulk deal data available on the National Stock Exchange (NSE), Singtel's arm Pastel Ltd offloaded 7.10 crore shares or 1.2 per cent stake in Bharti Airtel. The shares were disposed of at an average price of Rs 1,814.08 apiece, taking the aggregate transaction value to Rs 12,879.96 crore.
Now, Singtel will hold a 28.3 per cent stake in India’s second-largest telco.
Unlock Exclusive Insights with The Tribune Premium
Take your experience further with Premium access.
Thought-provoking Opinions, Expert Analysis, In-depth Insights and other Member Only Benefits
Already a Member? Sign In Now
