Merrill Lynch Markets Singapore has offloaded shares worth Rs 1,931 crore in Bharti Airtel through an open market transaction. It has sold 3.87 crore shares amounting to 0.97% stake in the company.
The shares were disposed of at an average price of Rs 499.1 apiece, valuing the transaction at Rs 1,931.23 crore. At the end of December quarter, Merrill Lynch held 5.09 crore shares of the telecom major. However, the shares were bought by SRS Partners (Cayman) LLC.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.
