Bharti Airtel to sell 5% stake to Qatari investment fund

05 June 2013 | Kavit Majithia

Shareholders in India’s Bharti Airtel have approved a $1.2 billion deal to sell 5% of the company to the Qatar Foundation Endowment.

It is the first time Qatar has made a major investment in a listed company in India, and the move is also seen to curb Airtel’s $11.7 billion debt.

The Qatar Foundation Endowment is owned by Sheikha Mozah, the wife of the country’s ruler, and serves an investment vehicle.