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Published on 13/03/2018 3:31:17 PM | Source: IANS

Singtel invests Rs 2,649 cr in Bharti Telecom

Bharti Airtel on Tuesday said Singapore Telecommunications Ltd (Singtel) has invested Rs 2,649 crore in Bharti Telecom, the promoter company of Airtel.

As per the deal, shares have been allotted to Singapore International Investments Private Ltd, an affiliate of Singtel, Bharti Airtel said in regulatory filing to the BSE.

This transaction concludes the investment process that Bharti Airtel had announced on February 5.

With this investment, "Singtel's total stake (along with its affiliates) in Bharti Telecom has increased to 48.90 per cent," the filing said, adding that, Bharti Enterprises continues to hold over 50 per cent stake in the company.

Previously, Singtel held 47.17 per cent in Bharti Telecom.

This investment comes after two years of Singtel's participation in Bharti Telecom's Right Issue of Rs 2,500 crore, which was completed in February 2016.