Mittal family, Singtel have no intention to sell stake in Airtel; 5G roll out to be delayed: Gopal Vittal

Kolkata: Bharti Airtel chief executive Gopal Vittal emphatically dismissed market speculation about the company’s promoter group entities – the Mittal family and SingTel – selling portions of their stakes in the telco via block deals. He also expects some “softness to return” to the telco’s mainline India mobile services business in coming months due to reduced economic activity amid a devastating Covid-19 second wave.

“I have heard about such (market) rumours this morning, but I wish to emphatically deny them and clarify that neither the Bharti family nor Singtel have any intention what-so-ever to sell their stakes in Airtel,” Vittal said.

Singtel and the Mittal family effectively own 31.9% and 24.5% in Bharti Airtel respectively.