Around 166.10 million shares or 4.2% stake of Bharti Airtel changed hands in seven block deals. However, details of the buyers and sellers were not known.Photo: Pradeep Gaur/MintMumbai: Shares of Bharti Airtel Ltd on Wednesday slumped 6.7%, its biggest fall in nearly eight months, after multiple block deals, according to a Bloomberg report. Around 166.10 million shares or 4.2% stake of the company changed hands in seven block deals. So far this year, it has risen 61%On Tuesday, Bloomberg reported that Three Pillars Pte., Singapore, an affiliate of Qatar Foundation Endowment SPC, will sell up to 199.90 million shares in Bharti Airtel in the price range of Rs473-490 each. On 3 November, Bharti Telecom increased its stake in Bharti Airtel to 50.10% by acquiring 184.70 million shares or 4.62% stake from Indian Continent Investment Ltd at a price of Rs417.35 per share.

Source: Mint November 08, 2017 05:03 UTC