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  Business   Companies  28 Mar 2017  Bharti Airtel sells stake of its telecom tower unit

Bharti Airtel sells stake of its telecom tower unit

PTI
Published : Mar 28, 2017, 10:52 am IST
Updated : Mar 28, 2017, 11:17 am IST

Bharti's stake in Infratel will stand at 61.7 percent, while KKR and Canada Pension will own 10.3 percent.

Bharti Airtel
 Bharti Airtel

Bharti Airtel said it sold a 10.3 percent stake in its telecom tower unit Bharti Infratel to U.S. private equity firm KKR & Co LP and Canada Pension Plan Investment Board for more than 61.9 billion rupees ($952.75 million).

Bharti Airtel will use the funds primarily to reduce its debt, the company said in Tuesday's statement.

After closing the deal, Bharti's stake in Infratel will stand at 61.7 percent, while KKR and Canada Pension will own 10.3 percent.

Tags: bharti airtel, bharti infratel