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Singtel Increases Airtel Stake To 32.34%

Singtel is buying 3.62% more of Bharti Telecom Ltd for Rs 1859.25 crore (S$ 383.57 million, or approximately US $303.05 million) in cash, thus increasing its stake in Bharti Telecom to 39.78% from 36.16%. This would lead to an increase in aggregate effective interest in Bharti Airtel to 32.34% from 30.76%. Bharti Telecom is the promoter company of Bharti Airtel, and owns 43.57% of Bharti Airtel. Singtel is buying 788,538 shares in Bharti Telecom at Rs 23,578.45 per share, based on a Bharti Airtel price of Rs 294.69, approximately 10% less than the volume weighted average price of Rs 327.44 per Bharti Airtel Share for the 30 trading days prior to (and excluding) 15 August 2013. Airtel shares opened today at Rs 346.10 on the Bombay Stock Exchange, after closing at Rs 342.70 on Thursday evening (August 15th 2013 was a…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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