Qatar Affiliate to Sell Airtel Stake For Rs 9,500 Crore

Mumbai: An affiliate of Qatar Foundation Endowment will sell its 5 per cent stake in telecoms carrier Bharti Airtel Ltd for about Rs 9,500 ($1.46 billion) in block deals on Wednesday, according to a term sheet.

The affiliate, Three Pillars Pte Ltd, has put up about 19.9 crore shares for sale in a price range of Rs 473-490 each, the term sheet showed.

The price range is a discount of 4.7-8 per cent to the stock's Tuesday closing price of Rs 514.35 on the National Stock Exchange.

UBS is the handling the planned sale.

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