• bharti airtel News
  • Corporate
  • Mobile
  • Telemedia
  • DTH
  • Enterprise
  • Logo and Other Downloads
  • Images
  • Media Contacts
  • curve

    Proceeds to be primarily used to pare debt

    New Delhi, March 28, 2017: Bharti Airtel Limited ("Bharti Airtel"), India's largest telecommunications services provider, today announced the successful completion of the secondary sale of over 190 million shares of its subsidiary Bharti Infratel Limited ("Bharti Infratel") representing 10.3%, to a consortium of funds advised by KKR and Canada Pension Plan Investment Board ("CPPIB") for a total consideration of over INR 6,193.9 Cr (approx. US$ 951.6 million), executed at a price of Rs. 325 per share.

    Bharti Airtel will primarily use the proceeds from this sale to reduce its debt. Following the closure of this transaction, Bharti Airtel's equity holding in Bharti Infratel stands at 61.7%, and that of KKR and CPPIB at 10.3%.

    Sunil Bharti Mittal, Chairman, Bharti Airtel, said, "This investment by a consortium of marquee long-term investors underlines the confidence of the global investors in India's growth story and the government's Digital India initiative in particular. It further reinforces the positive outlook for the telecom infrastructure sector. The long-term investment horizon of the investors aligns well with the capital needs and business cycles of Bharti Infratel."

    This transaction makes it KKR's second investment in Bharti Infratel. Previously, the funds managed by KKR had invested in Bharti Infratel during the period 2008 to 2015. Post this transaction, the stake held by KKR and CPPIB (combined) will be the single largest public shareholder block.

    About Bharti Airtel Limited
    Bharti Airtel Limited is a leading global telecommunications company with operations in 17 countries across Asia and Africa. Headquartered in New Delhi, India, the company ranks amongst the top 3 mobile service providers globally in terms of subscribers. In India, the company's product offerings include 2G, 3G and 4G wireless services, mobile commerce, fixed line services, high speed home broadband, DTH, enterprise services including national & international long distance services to carriers. In the rest of the geographies, it offers 2G, 3G and 4G wireless services and mobile commerce. Bharti Airtel had over 368 million customers across its operations at the end of January 2017. To know more please visit, http://airtel.com

    About Bharti Infratel Limited
    Bharti Infratel is India's leading provider of tower and related infrastructure and it deploys, owns and manages telecom towers and communication structures, for various mobile operators. The Company's consolidated portfolio of over 90,000 telecom towers, which includes over 38,500 of its own towers and the balance from its 42% equity interest in Indus Towers, makes it one of the largest tower infrastructure providers in the country with presence in all 22 telecom circles. The three leading wireless telecommunications service providers in India by revenue - Bharti Airtel, Vodafone and Idea Cellular - are the largest customers of Bharti Infratel. The Company has been the industry pioneer in adopting green energy initiatives for its operations. For further details visit www.bharti-infratel.com