Singapore-based Temasek Holdings Ltd will buy 4.99% stake in Bharti Airtel via its wholly owned subsidiary , reports CNBC-TV18.
Bharti Enterprises will maintain 45% stake in its telecom arm Bharti Airtel. At current market price, 4.99% stake in Bharti Airtel is worth Rs 8,198 crore.
In a statement, Bharti Enterprises has informed that one of its group companies has decided to grant an option to acquire an indirect stake in Bharti Airtel Ltd to a wholly-owned subsidiary of Singapore-based firm, Temasek Holdings Pvt Ltd.
It has further informed that the "option arrangement envisages acquisition of such number of shares which, on exercise, will result in a beneficial stake in Bharti Airtel Ltd to the extent of 4.99%."
Bharti Enterprises will continue to maintain a controlling interest of over 45% in Bharti Airtel Ltd through its subsidiary Bharti Telecom Ltd.
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