Singapore Telecommunications said on Friday its unit sold a 0.8% stake in India’s second-largest mobile carrier Bharti Airtel for S$1.5 billion ($1.16 billion).
More than 55 million shares of Bharti Airtel were traded through block deals, according to data from LSEG. Bharti Airtel shares were last down about 4%.
Singtel unit Pastel sold 51 million shares of Airtel at a price of 2,030 rupees ($23.10) per share, it said, a discount of about 3.1% to Airtel’s last close on Thursday.
Bharti Airtel did not respond to a Reuters request for comment.
Bloomberg News first reported the news on Thursday.
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