Singtel's stake in Airtel rises, Mittals' falls after Bharti telecom deal
Airtel has risen to 29.44% while that of the Mittal family has dipped to 23.7% after the telco's main controlling company, Bharti Telecom (BTL), recently strengthened its shareholding in India's second-largest telco.
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Earlier this week, BTL, a key promoter entity of Bharti Airtel, had increased its stake in the Sunil Mittal-led telco to 40.33% by acquiring an additional 1.2% from another Airtel promoter group entity, Indian Continent Investment (ICIL), through an off-market transaction.
The Mittals of Bharti group own a 50.56% stake in BTL while Singtel owns 49.44%.
A senior Bharti group source confirmed the new effective shareholdings of Singtel and the Mittal family in Airtel, following the stake hike by BTL. «Bharti Telecom remains the principal vehicle to hold a controlling stake in Airtel, and it continues to increase its holding from time to time,» he added.
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