Bharti Airtel sells 10% stake in tower unit to KKR, Canada Pension
Bharti Airtel will use the funds primarily to reduce its debt.business Updated: Mar 28, 2017 10:58 IST
Bharti Airtel has sold a 10.3% stake in its telecom tower unit Bharti Infratel to US private equity firm KKR & Co LP and Canada Pension Plan Investment Board for more than Rs 6,193.9 crore.
Bharti shares were up 0.8% at Rs 343.40 in early trade.
Bharti Airtel will use the funds primarily to reduce its debt, the company said informed the stock exchanges.
After closing the deal, Bharti’s stake in Infratel will stand at 61.7%, while KKR and Canada Pension will own 10.3%.