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Qatar Foundation acquires 5% of India's Bharti Airtel
- Qatar: Saturday, May 04 - 2013 at 05:46
Doha-based Qatar Foundation Endowment (QFE), the investment arm of the Qatar Foundation, has acquired a 5% stake in India's largest telecom operator Bharti Airtel for $1.26bn, Reuters has reported. As part of the deal Bharti will issue 199.9 million new shares at 340 rupees each, a 7.3% premium to the stock's Thursday closing price, the company said yesterday. Bharti, which recently raised $1.5bn in overseas bonds, has an option to sell shares its majority-owned telecoms infrastructure unit Bharti Infratel. Goldman Sachs advised QFE on the Bharti deal.
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