Bharti Airtel share price was down almost 4 percent intraday on May 26 after the company promoters are likely to sell USD 1 billion worth of shares in the company, CNBC Awaaz has reported.Bharti Telecom will reportedly sell shares via a block deal on May 26.Sources told Awaaz that the company’s promoters may sell nearly 15 crore shares as part of the block deal. JP Morgan is the banker to the deal. The deal is likely to be at a 6 percent discount to the closing price.Close With this latest block deal for a 2.75 percent stake sale, the promoter and promoter group shareholding in the telco would come down to 56.23 percent from the current 58.98 percent, as per the information available on the BSE website. related news Bharat Forge share price gains 3% on CLSA upgrade ITC to acquire 100% stake in Sunrise Foods; share price up 5% Bharti Airtel on May 18 reported a net loss of Rs 5,237 crore for the quarter ended March 2020. It had posted a consolidated loss of Rs 1,035.3 crore in the December quarter and profit of Rs 107.2 crore in March quarter 2019.The stock price has gained over 60 percent… Read full this story
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