Singapore Telecommunications’ (Singtel) unit -- Pastel has divested 1.59 per cent stake in Bharti Airtel for Rs 7,261 crore through an open market transaction. As per block deal data with the National Stock Exchange (NSE), the stake has been picked by Bharti Airtel's promoter Bharti Telecom.
According to the data, Pastel offloaded 9.40 crore shares, amounting to 1.59 per cent stake in the company. The shares were disposed of at an average price of Rs 772.5 apiece, taking the transaction value to Rs 7,261.50 crore. Post this transaction, Pastel's shareholding in Bharti Airtel will decrease to 10.62 per cent from 12.21 per cent.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.
