Bharti Airtel Ltd and another group entity will sell a combined 20% in its DTH arm, Bharti Telemedia Ltd, to private equity firm Warburg Pincus for $350 million as India’s largest telecom company seeks to cut debt.
The transaction will see Bharti Airtel sell 15% in Bharti Telemedia and another Bharti entity sell a 5% stake to an affiliate of the private equity firm, the telecom company said in a statement on Tuesday.
Bharti Airtel will use the funds to pare debt, said a person aware of the company’s plans requesting not to be named.
Airtel to sell 20% stake in DTH arm to Warburg Pincus for $350 million - Livemint
The transaction will see Bharti Airtel sell 15% in Bharti Telemedia and another Bharti entity sell a 5% stake to an affiliate of the private equity firm, the telecom company said in a statement on Tuesday.
Bharti Airtel will use the funds to pare debt, said a person aware of the company’s plans requesting not to be named.
Airtel to sell 20% stake in DTH arm to Warburg Pincus for $350 million - Livemint