Bharti Airtel today said it sold 55 million shares of its subsidiary Bharti Infratel for $310 million.
The Indian telecom operator will utilize the proceedings to reduce debt.
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Post the transaction, Bharti Airtel’s equity in Bharti Infratel will be 71.9 percent.
Airtel has allocated the shares to global tower company investors, fund managers and long only funds, including many repeat investors.
