Bharti Telecom Acquires 1.35% Stake In Bharti Airtel, What About Singtel?
Bharti Telecom, a key player in the Indian telecom sector, has made a substantial investment in Bharti Airtel, marking a notable shift in its stakeholding. Bharti Telecom, the promoter firm of Bharti Airtel, has recently acquired an additional 1.35% stake in Bharti Airtel.
This investment was made through an open market transaction and amounted to a whopping of ₹8,301 crore. With this latest move, Bharti Telecom’s direct stake in Bharti Airtel has increased significantly.
Bharti Telecom’s latest move to buy an additional 1.35% stake in Bharti Airtel for Rs 8,301 crore is a significant development in the telecom sector.
It not only increases Bharti Telecom’s direct stake in Bharti Airtel to 39.7% but also reinforces the strategic partnership between the Sunil Bharti Mittal family and Singapore-based Singtel.
Before this transaction, Bharti Telecom held a 38.35% stake in Bharti Airtel. This percentage is crucial as it represents the company’s influence and control over Bharti Airtel’s operations and decision-making.
With the new acquisition, their stake has now increased to 39.7%. This increase in stake signifies a strengthening of Bharti Telecom’s hold in the company.
But who exactly is behind Bharti Telecom? This company is co-owned by the Sunil Bharti Mittal family and Singapore-based Singtel. The Mittal family is a well-known name in the Indian business landscape, with Sunil Mittal being a prominent figure. Singtel, on the other hand, represents international interest and partnership in Bharti Telecom.
Speaking of Singtel, their stake in Bharti Telecom is noteworthy. As of September 30, 2022, Singapore-based Singtel held a 50.56% stake in Bharti Telecom, while the Mittal family owned the remaining 49.44%. This partnership between the Mittal family and Singtel is a strategic alliance that has been pivotal in Bharti Telecom’s operations and growth.