Singtel has sold about 1.2 per cent of its direct stake in Bharti Airtel for 2 billion Singapore dollar (SGD) (roughly $1.5 billion) in sync with its active capital management approach to optimise its asset portfolio and drive shareholder returns. Following the sale of 1.2 per cent equity, Singtel will hold a 28.3 per cent stake in Bharti Airtel.
The transaction was executed on a private placement basis to international and Indian institutional investors, including existing shareholders of Airtel.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.
