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Airtel: Bharti Telecom To Buy 3.33% Stake In Singapore Company Singtel, Deal For Rs 12,895 Crore

There is going to be a big change in the shareholding of Airtel, the country’s second largest telecom service provider. Airtel’s promoter company Bharti Telecom has tied up with its Singapore partner Singtel for this. Under this deal, Singapore Telecommunications will hand over its 3.33 percent stake in Airtel to Bharti Telecom. This deal between the two companies will be for 2.25 billion Singapore dollars i.e. about Rs 12895 crore. Indian Telecom has said on Thursday that the deal will be completed in 90 days.

Deal is being done for an equal stake in Airtel

In the information given to the stock exchange by Bharti Airtel, it has been said that Singtel and its subsidiaries have entered into an agreement to hand over their 3.33% stake in Airtel to Bharti Telecom Limited (BTL). It has been said on behalf of BTL that Bharti Telecom and Singtel have entered into this agreement to equalize their stake. Currently, Singtel holds a 50.56% stake in Airtel while the Mittal family holds a 49.44% stake in the company.

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