Bharti Airtel’s Sunil Mittal in talks to acquire 49% stake in Haier India unit for $2 billion: Report

Bharti Group Chairman Sunil Mittal is reportedly in advanced negotiations to acquire a 49% stake in the Indian arm of China’s Haier Smart Home Co., as the billionaire seeks to expand his presence in India’s fast-growing consumer durables market, reported Bloomberg News.

According to a report by Bloomberg News, Mittal has teamed up with private equity firm Warburg Pincus for the potential deal, which is estimated to be valued at approximately $2 billion. The discussions are said to be at an advanced stage, and a formal agreement could be reached in the coming weeks, subject to regulatory approvals, the report said, citing people familiar with the matter who requested anonymity due to the confidential nature of the talks.