Bharti Airtel to sell 5 pct stake to Qatar Foundation for $1.26 bln
NEW DELHI May 3 (Reuters) - Bharti Airtel Ltd, India's top telecommunications carrier, said on Friday it would sell a 5 percent stake in the company to Qatar Foundation Endowment for $1.26 billion to strengthen the capital structure of the company.
Bharti will issue 199.9 million new shares to Qatar Foundation Endowment at 340 rupees apiece, the company said in a statement.
The issue price represents a 7.3 percent premium to the stock's Thursday closing price.
- Former WWE champ nabs suspected burglar in Arizona
- First Ebola victim in Sierra Leone capital on the run
- Thousands take to N.Y. streets to protest Israeli offensive in Gaza
- Apple iPhones allow extraction of deep personal data, researcher finds
- U.S. fighter jets escort Canadian plane home over passenger threat