Reuters logo
BUZZ-India's Bharti Airtel slumps on stake sale by Qatari shareholder
November 8, 2017 / 4:29 AM / 14 days ago

BUZZ-India's Bharti Airtel slumps on stake sale by Qatari shareholder

** Bharti Airtel Ltd falls as much as 5.7 pct to 485.25 rupees, its fourth consecutive session of losses

** Three Pillars Pte Ltd, an affiliate of Qatar Foundation, plans to sell 5 pct stake in the telecom operator for about 95 bln rupees ($1.46 bln), a term sheet seen by Reuters showed

** Investor has put up 199.9 mln shares in Airtel for sale in a price range of 473-490 rupees per share - term sheet

** Price range is at a discount of 4.7-8.0 pct to stock’s closing price on Tuesday

** Stock top loser on both NSE and BSE indexes

** Posts biggest intra-day pct fall since Sept. 20 ($1 = 65.0500 Indian rupees)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below