Bharti Airtel to sell 5 stake to Qatar Foundation Endowment

post issuance of the new shares.8221;

As per the agreement,QFE will subscribe to 199,870,006 new shares of Bharti at a price of Rs 340 per share amounting to a total consideration of USD 1.26 billion Rs 6,796 crore,it added.

8220;I am delighted to welcome another high quality long-term institutional investor to our shareholder base8230;this agreement exemplifies further strengthening of the already

deep economic and cultural relations between Qatar and India,8221; Bharti Chairman Sunil Bharti Mittal said in the statement.

Goldman Sachs acted as the sole financial advisor to QFE on this investment,the statement said.

8220;As a long-term global investor,our shareholding gives us exposure to a high growth sector in key emerging markets. QFE looks forward to supporting Bharti in realising the full potential of this world class business,8221; QFE Acting Chief Executive Officer Rashid Al-Naimi said.