New Delhi:
A Qatari investor plans to sell a 5 percent stake in Indian telecom major Bharti Airtel Ltd on Wednesday for about 95 billion rupees ($1.46 billion), adding to the Gulf nation's recent stake sales in foreign companies.
Three Pillars Pte Ltd, an affiliate of the Qatar Foundation, has put up for sale through stock market transactions about 199.9 million shares in Bharti Airtel in a price range of 473-490 rupees each, according to a deal term sheet.
The stake sale comes after other Qatari companies, including its sovereign wealth fund, have been reducing stakes in foreign companies and raising cash to infuse into its economy, which has been hit by economic sanctions imposed by Saudi Arabia, the United Arab Emirates, Bahrain and Egypt since early June.
