Recovery In Bharti Airtel's India Ops Remain Crucial, Stake Sale In Africa Arm Will Reduce Debt:s&p | Business Standard News
S&P Global Ratings said Thursday Bharti Airtel's sale of a minority stake in its Africa subsidiary will ease some pressure on the rating of the India-based telecom company. Six global investors, including Warburg Pincus, Temasek, Singtel and SoftBank Group International, have agreed to invest USD 1.25 billion through a primary equity issuance in Airtel Africa. "Bharti Airtel's sale of a minority stake in its Africa subsidiary will ease some pressure on the rating on the India-based telecommunications company. Bharti will use the proceeds of about USD 1.25 billion to repay of debt," S&P Global Ratings said in a statement.