This Article is From Nov 07, 2017

Qatar Affiliate to Sell Airtel Stake For Rs 9,500 Crore

Three Pillars Pte Ltd has put up about 19.9 crore Airtel shares for sale in a price range of Rs 473-490 each.

Qatar Affiliate to Sell Airtel Stake For Rs 9,500 Crore

The price range is a discount of 4.7-8% to Airtel stock's Tuesday closing price of Rs 514.35 on NSE.

Mumbai: An affiliate of Qatar Foundation Endowment will sell its 5 per cent stake in telecoms carrier Bharti Airtel Ltd for about Rs 9,500 ($1.46 billion) in block deals on Wednesday, according to a term sheet.

The affiliate, Three Pillars Pte Ltd, has put up about 19.9 crore shares for sale in a price range of Rs 473-490 each, the term sheet showed.

The price range is a discount of 4.7-8 per cent to the stock's Tuesday closing price of Rs 514.35 on the National Stock Exchange.

UBS is the handling the planned sale.
© Thomson Reuters 2017


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