Bharti Airtel, India’s largest telecom operator will sell 5 percent stake to Doha-based Qatar Foundation Endowment for $1.26 billion (~Rs. 6,800 crore) by issuing 199,870,006 new shares at a price of Rs. 340 apiece, according to a recent report from Economic Times. Bharti reported its 13th successive drop in quarterly profits yesterday, with a near 50 percent fall in profits compared with a year earlier. This move would ease the debt burden on Airtel. Continue reading “Qatar Foundation buys 5% stake in Bharti Airtel for $1.26 billion”
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