BUZZ-India's Bharti Airtel falls after report of stake sale by SingTel

Reuters
2025/05/16
BUZZ-India's Bharti Airtel falls after report of stake sale by SingTel

** Bharti Airtel BRTI.NS down 2.6% to 1,819.5 rupees; among top losers on Nifty 50 .NSEI, which is trading 0.25% lower

** Singapore Telecommunications STEL.SI expected to sell shares worth $1 billion in BRTI on the day through block deals, Business Standard newspaper reports, citing sources

** Southeast Asia's largest telecom operator, SingTel, looking to sell 47.6 mln Airtel shares at floor price of 1,800 rupees, a 3.6% discount to stock's last close, report adds

** STEL and BRTI did not immediately respond to Reuters requests for comments

** CLSA says stake sale shouldn't come as surprise as it's part of STEL's efforts to equalise shareholding with the Mittal Group in BRTI

** YTD, BRTI gains 14.4%

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

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