Home ECONOMY Vodafone sells its 4 percent Bharti Airtel stake for $200 mn

Vodafone sells its 4 percent Bharti Airtel stake for $200 mn

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New Delhi, May 29:

British telecom major Vodafone has sold its 4.2 percent stake in Bharti Airtel to Bharti Enterprises (Holding) for $200 million.

vodafoneVodafone said in a statement here that its decision to offload its stake in the largest telecom operator in India, in terms of subscribers base, follows the new unified licence (UL) regime that prohibits holdings by any group in more than one licensee company in the same service area.

The telecom major confirmed the sale of its share in Bharti Infotel, representing an approximate 4.2 percent interest in Bharti Airtel, through a “wholly-owned subsidiary” to Bharti Enterprises Holding for $200 million. (IANS)

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