India’s Bharti Airtel may sell additional shares to major shareholder SingTel to raise funds that would go towards its acquisition of Zain’s assets in Africa.
According to a report in India’s Economic Times newspaper, Bharti is considering a share sale…
India’s Bharti Airtel may sell additional shares to major shareholder SingTel to raise funds that would go towards its acquisition of Zain’s assets in Africa.
According to a report in India’s Economic Times newspaper, Bharti is considering a share sale to SingTel, which already owns 30% of the company, to avoid taking on too much debt to finance the US$10.7bn deal, for which the outlay would be US$9bn.
Bharti is in exclusive talks with Zain over the acquisition of the African portfolio and has until March 25 to agree terms of a deal.
Bharti Airtel is advised by Standard Chartered and Barclays Capital.
