Bharti Airtel sells 10 pct stake in tower unit to KKR, CPPIB: Reuters

India's Bharti Airtel said it sold a 10.3 percent stake in its telecom tower unit Bharti Infratel to U.S. private equity firm Kohlberg Kravis Roberts & Co LP and Canada Pension Plan Investment Board for more than 61.9 billion rupees (US$952.75 million), Reuters reported. Bharti Airtel sold 190 million shares in Infratel to KKR and CPPIB at 325 rupees apiece, the country's top telecom operator said in a statement, adding that the funds will primarily be used to reduce its debt. The deal will leave Bharti's stake in Infratel at 61.7 percent, with the remainder owned by a slew of fund managers.

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