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Qatar affiliate selling $1.46 bln stake in India's Bharti Airtel - term sheet
November 7, 2017 / 1:23 PM / 17 days ago

Qatar affiliate selling $1.46 bln stake in India's Bharti Airtel - term sheet

MUMBAI, Nov 7 (Reuters) - An affiliate of Qatar Foundation Endowment will sell its 5 percent stake in Indian telecoms carrier Bharti Airtel Ltd for about 95 billion rupees ($1.46 billion) in block deals on Wednesday, according to a term sheet.

The affiliate, Three Pillars Pte Ltd, has put up about 199.9 million shares for sale in a price range of 473-490 rupees each, the term sheet showed.

The price range is a discount of 4.7-8 percent to the stock’s Tuesday closing price of 514.35 rupees on the National Stock Exchange.

UBS is the handling the planned sale. ($1 = 64.9900 Indian rupees) (Reporting by S. Anuradha of IFR, Writing by Devidutta Tripathy; Editing by Louise Heavens)

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