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Bharti Airtel sells 10% in tower subsidiary for Rs 6,194 crore

Bharti Airtel sells 10% in tower subsidiary for Rs 6,194 crore

Wednesday, March 29, 2017, 7:22 AM

Bharti Airtel sold 10.3% of its tower arm to a consortium of KKR and Canada Pension Plan Investment Board (CPPIB) to slash some of its huge debt and gird up for bruising competition in the wake of Reliance Jio’s rock-bottom entry tariffs. Shares in Bharti Infratel hit an intra-day high of Rs.325 before ending at Rs.318.75 on the BSE on Tuesday, up 2%.
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