Singtel offloads 1.2% stake in Bharti Airtel for Rs 13,173 crore

Singapore-based telecom service provider Singapore Telecom (Singtel) has offloaded 1.2% of its direct stake in India’s second largest telco Bharti Airtel for approximately Rs 13,173 crore ($1.5 billion) through multiple block deals.

The firm, which also holds stake in Airtel’s promoter Bharti Telecom, said in a statement that the stake sale was part of its active capital management approach to optimise its asset portfolio and drive shareholder returns sustainably.