Bharti Telecom to raise $1 billion via block sale of Airtel shares

Bharti Telecom, parent company of Bharti AirtelNSE -4.05 %, is planning to raise $1 billion by selling shares in the mobile phone operator through a block deal on Tuesday at Rs 558 a unit, according to a term sheet of the planned sale seen by ET.

“A block deal is expected tomorrow. Promoters plan to sell up to 2.75 per cent stake,” a banker said.

Airtel didn’t immediately respond to ET’s emailed queries.