Bharti Airtel jumps 5% on Infratel stake sale plan

NEW DELHI: Bharti Airtel shares jumped over 5 per cent whereas those of Bharti Infratel fell as much as 3 per cent in Tuesday’s session after Infratel said Airtel was to sell some of its stake in the company.

Bharti Infratel said that Bharti Airtel will slash its stake in the telecom tower company by more than half to 18.3 per cent.

On the other hand, Airtel’s unit, Nettle Infrastructure Investments Ltd, will buy a 32 per cent stake in Bharti Infratel.

Shares of Bharti Airtel were trading 5.38 per cent up at Rs 351.65 around 11:05 am on BSE, while those of Bharti Infratel were 0.44 per cent down at Rs 317.95 at that time.