Temasek acqires 4.99 pc in Bharti Airtel

New Delhi, July 3 (UNI) Singapore-based Temasek Holdings Pvt Ltd will buy 4.99 per cent stake in country's leading mobile service provider Bharti Airtel.

Bharti Enterprises today said one of its group companies has decided to grant an option to Temasek to acquire an indirect stake in Bharti Airtel.

The option arrangement envisages acquisition of such number of shares which, on exercise, will result in a beneficial stake in Bharti Airtel to the extent of 4.99 per cent.

Bharti Enterprises continues to maintain a controlling interest of over 45 per cent in Bharti Airtel through its subsidiary Bharti Telecom Ltd, a statement said.

Bharti Airtel was trading at 866.60 up 3.54 per cent in BSE today.

UNI