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Bharti Airtel drops; report says may sell shares

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Bharti Airtel drops; report says may sell shares - July 31st, 2012

Shares in Bharti Airtel fall 2.4% 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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