Qatar Foundation to invest $1.2bn in India's Airtel
New Delhi, June 5, 2013
Shareholders of India's Bharti Airtel on Wednesday approved a $1.2 billion deal to sell a 5 percent stake of the company to the Qatar Foundation Endowment, the company said.
The deal marks Qatar's first major investment in a listed Indian company. It will also help Bharti Airtel, India's top telecommunications carrier, pare some its $11.7 billion debt.
The Qatar Foundation Endowment is an investment vehicle of the Qatar Foundation controlled by Sheikha Mozah, the wife of the country's ruler. -Reuters