SingTel planning to sell shares worth Rs 8,500 crore in Bharti Airtel: Reports

Singapore Telecommunications Ltd (SingTel) is planning to sell another tranche of stakes in Bharti Airtel through a block deal, stated a report by CNBC Awaaz on Monday citing sources. Per the report, SingTel is expected to sell shares worth $1 billion of Rs 8500 crore.

While there was no official statement from SingTel, sources maintained that the company board is expected to meet this week to discuss the proposed stake sale as part of its capital management strategy.