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| 07 November, 2017

Qatar affiliate selling $1.46bln stake in India's Bharti Airtel- term sheet

Men make phone calls as they sit on a railing with Bharti Airtel billboards installed on it, along a sidewalk in Kolkata February 1, 2013.

Men make phone calls as they sit on a railing with Bharti Airtel billboards installed on it, along a sidewalk in Kolkata February 1, 2013.

REUTERS/Rupak De Chowdhuri

An affiliate of Qatar Foundation Endowment will sell its 5% stake in Indian telecoms carrier Bharti Airtel.

MUMBAI- An affiliate of Qatar Foundation Endowment will sell its 5 percent stake in Indian telecoms carrier Bharti Airtel Ltd for about 95 billion rupees ($1.46 billion) in block deals on Wednesday, according to a term sheet.

The affiliate, Three Pillars Pte Ltd, has put up about 199.9 million shares for sale in a price range of 473-490 rupees each, the term sheet showed.

The price range is a discount of 4.7-8 percent to the stock's Tuesday closing price of 514.35 rupees on the National Stock Exchange.

UBS is the handling the planned sale. ($1 = 64.9900 Indian rupees)

(Reporting by S. Anuradha of IFR, Writing by Devidutta Tripathy; Editing by Louise Heavens) ((devidutta.tripathy@thomsonreuters.com; +91 84518 40430; Reuters Messaging: devidutta.tripathy.thomsonreuters.com@reuters.net))