Airtel to sell 32% stake in Infratel

21 Dec 2018

Bharti Airtel, India’s second-largest mobile provider by subscribers, has announced plans to sell a 32% stake in is infrastructure arm Bharti Infratel and has begun looking at other potential fundraising options as it looks to cut its debt and bankroll further 4G expansion, the Economic Times reports. The move could raise up to INR154.5 billion (USD2.2 billion) for the operator, and reduce the group’s direct shareholding in the tower provider from 50.33% to 18.33%.

India, Bharti Airtel, Bharti Infratel