Sunil Mittal has sold a stake worth close to $1 billion in Bharti Airtel this week. As reported by Bloomberg, GQG Partners LLC and Fidelity Investments were named as a couple of the investors that acquired shares in the company this week. In total, Mittal sold the 0.84 percent stake for $976 million. 51 million shares were sold.

A company linked to Indian billionaire Sunil Mittal sold Bharti Airtel shares worth $976 million as the telecommunications tycoon seeks opportunities outside India.

Bharti Airtel announced it will increase its shareholding in Airtel Africa plc by acquisition of upto 5 per cent stake in one or more tranches during FY 2024-25.

Sunil Bharti Mittal stated that Airtel is ready to lead satellite connectivity in India and is awaiting government approvals. He said shared satellite spectrum would boost connectivity in rural areas and called for an auction for urban regions.

The move underscores Mittal's strategic efforts to generate funds for new ventures while maintaining Bharti Airtel's position as a leading player in India's telecom market.

Indian Continent Investment Limited a promoter-group entity of Bharti Airtel Limited (Airtel), led by billionaire Sunil Mittal, has sold 0.84% shareholding in Airtel through a market transaction. The deal,