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Bharti Airtel drops; report says may sell shares

Source : REUTERS
Last Updated: Tue, Jul 31, 2012 10:21 hrs
A man touches a screen on a Bharti Airtel advertisement billboard during the launch ceremony for 4G services in Kolkata

Shares in Bharti Airtel fall 2.4 percent after the Economic Times newspaper reported India's biggest mobile carrier is exploring issuing new shares to raise funds, citing two people aware of the plans.

The report added Bharti was also examining other options, including external commercial borrowings or a possible stock market listing of unit Bharti Infratel.

A Bharti official declined to comment on the report.

Bharti has been widely expected to raise funds to reduce its debt exposure from its acquisition of mobile operations in 15 African countries from Kuwait's Zain in June 2010.

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