India’s Bharti Airtel shareholders approve stake sale to Qatar investor

Bharti Airtel Ltd is considered India’s top telecommunications carrier. (File photo: AFP)

Shareholders of India’s Bharti Airtel Ltd on Wednesday approved a $1.2 billion deal to sell a 5 percent stake of the company to the Qatar Foundation Endowment, the company said.

The deal marks Qatar’s first major investment in a listed Indian company. It will also help Bharti Airtel, India’s top telecommunications carrier, pare some its $11.7 billion debt.

The Qatar Foundation Endowment is an investment vehicle of the Qatar Foundation controlled by Sheikha Mozah, the wife of the country’s ruler.

Last Update: Wednesday, 20 May 2020 KSA 09:41 - GMT 06:41