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Qatar Foundation Endowment to buy 5% of Indian Airtel

05 Jun 2013

(MENAFN) India’s Bharti Airtel Ltd stated that it signed a deal with Qatar Foundation Endowment by which the latter will buy a 5 percent stake of Airtel, reported Arabian Business.

The company also said that the deal will cost Endowment USD1.2 billion, and represents Qatar’s first major investment in a listed Indian company.

The Qatar Foundation Endowment is an investment vehicle of the Qatar Foundation controlled by the wife of the Qatari Emir, Sheikha Mozah.

It is worth noting that Bharti Airtel Limited is a multinational telecommunications services company which operates in 20 countries across South Asia, Africa and the Channel Islands. Airtel has GSM network in all countries in which it operates, providing 2G, 3G and 4G services depending upon the country of operation.

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