Thursday 23 November 2017 ,
Thursday 23 November 2017 ,
Latest News
  • US to pursue targeted sanctions on Myanmar, says Tillerson
  • Myanmar has to find a solution to Rohingya crisis: PM
  • Tonu’s family members quizzed in Dhaka for probe
  • AL leaders themselves spill beans about convoy attack: BNP
  • Rupa killing case: Charge-framing now on Nov 29
15 November, 2017 08:13:37 AM
Print

India’s Airtel sells $508m stake amid Jio fight

AFP
India’s Airtel sells $508m stake amid Jio fight

Indian telecom giant Bharti Airtel sold a half-billion-dollar stake in its mobile tower business yesterday to help shrink its debts as it reels from a price war sparked by rival Reliance Jio.

Airtel, which recently reported a 77 per cent slump in quarterly profits, said in a statement that it had sold 83 million shares worth 33.25 billion rupees ($508 million) in Bharti Infratel.

“Bharti Airtel will primarily use the proceeds from this sale to reduce its debt,” the company said in a filing to the Bombay Stock Exchange in India’s financial capital Mumbai. The shares were bought by global investors and fund managers, the statement added.

It came a day after Idea Cellular and Vodafone India announced the sale of 20,000 mobile phone towers to American Tower Corp for

78.5 billion rupees as it seeks funds to fend off Jio, which is owned by India’s richest man.

KK

Comments

Poll
Today's Question »
Prime Minister Sheikh Hasina has said that Myanmar itself has to find out solution to the Rohingya repatriation issue. Do you agree?
 Yes
 No
 No Comment
Yes 14.3%
No 85.7%
No Comment 0.0%
Video

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting