Singtel to raise Bharti Airtel stake to 39.5% via investment in Bharti Telecom

Singapore

SINGTEL will subscribe to new shares in Bharti Telecom - the holding company of Indian telecommunications company Bharti Airtel - under a proposed preferential allotment that will see it increase its stake in Bharti Telecom.

Singtel will be allotted up to 85.45 million new equity shares in Bharti Telecom at 310 rupees apiece, which will raise Singtel's stake in Bharti Telecom by up to 1.7 per cent for a total consideration of around 26.5 billion rupees (S$555.6 million).