Bharti Airtel sells stake in Bharti Infratel for Rs 3325 crore

Bharti Airtel divests 83 million shares of Bharti Infratel for Rs 3,325 crore

This transaction would fetch India's largest telecom operator by customers about Rs 3,325 crore ($510 million) excluding transaction costs and statutory levies, Bharti Airtel said in a stock exchange filing. Global investors and fund managers are among those who bought the shares. The proceeds from this sale will be used to pare its debt, the company said in a BSE filling.

Shares of Bharti Infratel fell almost 3 per cent, while those of parent Bharti Airtel rose over 1 per cent in Tuesday's trade amid reports that the latter had sold stake in the former via block deals.

Net debt of Bharti Airtel rose to Rs 91,480.1 crore as on September 2017 - compared to Rs 87,840.4 crore in June 2017 quarter and Rs 81,480.3 crore a year ago same period. Announcing the "successful divestment" of 83 million shares of subsidiary Bharti Infratel, the company said: "The sale was for a total consideration of over Rs 3,325 crore ($510 million) and was executed at a price of Rs 400.6 per share, representing a discount of 3.6 per cent to the previous day's closing price".

J.P. Morgan, UBS and Goldman Sachs were joint placement agents for the transaction. It holds 42% stake in Indus Towers, which enjoys 2x tenancies for now.

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)
Parkside Fin Bank & Trust & Tru, a Missouri-based fund reported 957 shares. 2,231 are held by Manufacturers Life Insurance The. Dimensional Fund Advisors LP increased its position in shares of Kulicke and Soffa Industries by 0.4% during the 3rd quarter.

Amf Pensionsforsakring Ab Marginally Increases Its Holdings in Kinder Morgan (KMI) Stock
Duff & Phelps Investment Management Co bought 475,890 shares as the company's stock declined 10.34% while stock markets rallied. Revenue during the quarter was $3.28 billion, representing -1% growth from $3.33 billion in year-ago quarter.

Removal of S Durga from IFFK: Sanal Kumar Sasidharan to move court
The festival, slated for November 20-28, is the oldest and most prestigious film festival in India, Mehr News Agency reported. Nude was earlier scheduled to open the festival but now it has been replaced by Hindi movie Pihu by Vinod Kapri.

Both Vodafone India and Idea as customers and ATC TIPL as a mobile network infrastructure provider have agreed to treat each other as long-term preferred partners, subject to existing arrangements.

The sale was carried out by Airtel via its wholly-owned subsidiary, Nettle Infrastructure Investments.

Where Infratel share price saw selling pressure, Bharti Airtel's stock price remained positive trading at Rs 499.05 up 0.20% on BSE.

Related News:

  • Marquise Goodwin Says 'Never Stop Believing' After Death of Infant Son

    Marquise Goodwin Says 'Never Stop Believing' After Death of Infant Son

    As he entered the end zone, Goodwin dropped to his knees and looked up to the sky, and dropped his head again. Carradine is eligible to play against Seattle.
    Jordin Sparks secretly married and expecting first child

    Jordin Sparks secretly married and expecting first child

    Regardless, they are completely head over heels now, and fans can't wait to follow Jordin along during her pregnancy . A few weeks after tying the knot, the " American Idol " season 6 victor found out she was expecting.

    Investors Buy Eli Lilly and Company (LLY) on Weakness After Insider Selling

    The chart of Eli Lilly and Co ( LLY ) shows a double bottom with $77.61 target or 6.00 % below today's $82.56 share price. The stock exchanged hands with 2,479,441 numbers of shares compared to its average daily volume of 3.37M shares.
  • Kate Middleton's Uncle Admits To Assaulting His Wife

    Kate Middleton's Uncle Admits To Assaulting His Wife

    Goldsmith is the younger brother of Carole Middleton and attended the weddings of both the Duchess and her sister Pippa. When Shepherd then challenged Goldsmith over his actions, he became aggressive towards the taxi driver, it was said.

    Walgreens Boots Alliance, Inc. (WBA) Shares Sold by Sentry Investments Corp

    Presently, 0.20% shares of EQT Corporation (NYSE:EQT) are owned by insiders with 13.72% six-month change in the insider ownership. Also, Director John Anthony Lederer acquired 20,000 shares of the business's stock in a transaction dated Thursday, October 26th.
    Analyst Opinion Summary: NVIDIA Corporation (NVDA), BIOLASE, Inc. (BIOL)

    Analyst Opinion Summary: NVIDIA Corporation (NVDA), BIOLASE, Inc. (BIOL)

    Narrowing in a bit closer, the 5 month price index is 0.98627, the 3 month is 1.02498, and the 1 month is now 0.92438. Insider data is useful because it can reveal what a company's executives and largest shareholders feel about a stock.
  • Texas State University suspends Greek activities after pledge's death

    Texas State University suspends Greek activities after pledge's death

    Preliminary findings indicate alcohol may have been a factor in his death, but police are awaiting results of a toxicology test. San Marcos police are investigating after Matthew Ellis, 20, was found dead at an apartment building off campus.
    Denver passes bill banning cat declawing

    Denver passes bill banning cat declawing

    Denver joins San Francisco, Santa Monica, Beverly Hills, Berkeley, Culver City and Burbank, which have all enacted similar bans. Although it is the first of its kind law to pass in the US outside of California, the idea to ban declawing is not new.

    (BMY) Position Increased by Mn Services Vermogensbeheer BV

    Rock Springs Capital Management Lp sold 402,600 shares as Bristol Myers Squibb Co ( BMY)'s stock declined 1.04%. (NYSE:EFX). Bristol-Myers Squibb Company's ROI is valued at 19.80% relatively measuring the profitability on the investment.
  • Richest 1 per cent own half of world's wealth

    Richest 1 per cent own half of world's wealth

    That brings the total number of millionaires in the US up to approximately 15,356,000, or about one in every 20 Americans. Millennials are also expected to continue facing greater wealth inequality than previous generations.
    Dicks Sporting Goods Inc Takes a Hit Despite Earnings Beat

    Dicks Sporting Goods Inc Takes a Hit Despite Earnings Beat

    Northwestern Mutual Investment Management Company LLC raised its stake in Dick's Sporting Goods by 1.6% during the second quarter. The value of the investment in Dick's Sporting Goods Inc went from $7,826,000 to $4,220,000 a change of 46.1% quarter to quarter.
    Are Analysts Turning Critical? - American Eagle Outfitters, Inc. (AEO), Medtronic plc (MDT)

    Are Analysts Turning Critical? - American Eagle Outfitters, Inc. (AEO), Medtronic plc (MDT)

    Senvest Management LLC bought a new stake in American Eagle Outfitters during the 3rd quarter valued at approximately $22,737,000. The Beta for the company stands at 1.08 and its Average True Range (ATR) shows a value of 0.44. (NYSE: AEO ) is 0.277422.


Most liked

Hot On The Charts: Arrowhead Pharmaceuticals, Inc. (ARWR), Cisco Systems, Inc. (CSCO)
It is positive, as 90 investors sold CSCO shares while 594 reduced holdings. 111 funds opened positions while 694 raised stakes. Cisco Systems, Inc . ( CSCO ) exchanged hands at an unexpectedly low level of 15.75 million shares over the course of the day.

The Bachchans Look Royal At A Family Wedding!
While Abhishek was last seen in Rishi Kapoor All The Best, Aishwarya's last outing was Ranbir Kapoor's Ae Dil Hai Mushkil. On the work front, Amitabh Bachchan has two films in his kitty - "102 Not Out" and "Thugs Of Hindostan".

How Many Schlumberger Limited. (NYSE:SLB)'s Analysts Are Bullish?
Highland Mngmt Ltd Partnership reported 55,000 shares or 0.15% of all its holdings. $2.77 million worth of Schlumberger Limited. Finally, Frontier Wealth Management LLC increased its position in Schlumberger N.V.by 0.4% during the 2nd quarter. (NYSE:SLB).

Pixel 2 XL Can't Get Their Display Right
The issue has been escalated to the Pixel team already but we haven't read any response or acknowledgment yet. We're giving Google several chances to prove their latest Pixel devices are worthy of their premium prices.

Cards Against Humanity buys land along Mexican border to block wall
For those who want to cancel their order, the company replies, "We'd like to cancel the 2016 election, but neither of us is going to get what we want".

Old drugs, new tricks: Rejuvenating existing antibiotics to combat AMR
This, in turn, limits the arsenal of antibiotics that healthcare professionals are able to use to tackle disease effectively. The week of November 13-19 is U.S.

Brokers Recommendations on: Juniper Networks, Inc. (JNPR)
The value of the total investment in Juniper Networks went from $3,887,000 to $3,381,000 decreasing 13.0% quarter over quarter. BidaskClub lowered Juniper Networks from a "hold" rating to a "sell" rating in a research note on Tuesday, October 17th.

Warwick Davis is coming to Disney's 'Star Wars: Galactic Nights'
The poster features both old and new characters, with Luke Skywalker, General Organa, Kylo Ren, and Rey as the main focus. Star Wars: The Last Jedi opens December 15 from Lucasfilm , which is owned by Disney , parent company of ABC News.

Voda, Idea to sell tower assets to ATC for Rs 7850 crore
The average revenue per user declined to Rs 146 from Rs 186 previous year following "stiff price competition", the company said. The American company had earlier acquired a controlling stake in Viom Networks.

Alabama 1 of 2 states in running to land Toyota, Mazda plant
Randolph County is in the process of expanding its site by rezoning 370 acres to add to the 1,500 acres that comprise the site. The other three mega-sites are near Siler City and Moncure in Chatham County and east of Rocky Mount in Edgecombe County.

Rochester woman charged with murder in death of 10-day-old baby
A NY woman is facing a second-degree murder charge after police say she intentionally drowned her 10-day-old son in the bathtub. Police responded to the report of an unresponsive infant on Locust Street on November 13 around 2:30 in the afternoon.

Giancarlo Stanton Won't Accept Trade To Red Sox, Cardinals
Stanton can opt out of his deal in 2020, but if he decides against that, he would be owed $25 million in 2027, when he turns 37. They consider their outfield well stocked, with Chris Taylor, Yasiel Puig, Joc Pederson, Enrique Hernandez and Andrew Toles.

Sergio Garcia plays down European No 1 chance
But the former Amateur World No. 1 is in no doubt that his 2016 DP World Tour Championship victory stands out above all the rest. The world #6 will win the Race to Dubai if he finishes second on his own, as long as Fleetwood doesn't win.

Traders Watch List: Express Scripts Holding Company (ESRX)
It has outperformed by 43.18% the S&P500. 499.72 million shares or 1.80% less from 508.89 million shares in 2017Q1 were reported. The volume of WMB witnessed a shift from 3.44 million shares, based on a 50-day average, to 4.34 million shares.

Analyst Stock Recommendations For Activision Blizzard, Inc. (ATVI), OraSure Technologies, Inc. (OSUR)
The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.42 by $0.07. The stock declined 0.80% or $1.47 reaching $183.07 per share. (MWA) has risen 8.65% since November 13, 2016 and is uptrending.