Bharti Airtel Share Price Rallied Nearly 3 Percent In Morning After A Media Report - Dollar Advisory Financial Services

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Friday 4 May 2018

Bharti Airtel Share Price Rallied Nearly 3 Percent In Morning After A Media Report

Bharti Airtel share price rallied nearly 3 percent in morning after a media report indicated that the company is planning to raise funds through stake dilution in Africa operations.

"Bharti Airtel plans to raise as much as USD 1.5 billion by diluting about a fourth of its stake when it lists the holding company for Africa operations, Bharti Airtel International BV , in early 2019," The Economic Times said quoting people with knowledge of the matter.

Global ratings agency Standard & Poor's today revised down its outlook on the country's largest telco Bharti Airtel to "negative" from stable, following weak financial performance in FY18 and concerns on elevated capex in the current financial year.

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