Bharti Airtel CEO Gopal Vittal on Tuesday categorically dismissed speculations over the company's promoter shareholders, the Mittal family and SingTel, selling portions of their stakes via block deals.
Singtel and the Mittal family effectively own 31.9% and 24.5% in Bharti Airtel respectively.
“I have heard about such (market) rumours this morning, but I wish to emphatically deny them and clarify that neither the Bharti family nor Singtel has any intention what-so-ever to sell their stakes in Airtel,” Vittal told Economic Times.
He also said that he expects some “softness to return” to the telco’s mainline India mobile services business in the coming months due to reduced economic activity amid a devastating Covid-19 second.
Meanwhile, the Airtel board has recommended the re-appointment of Sunil Bharti Mittal as chairman for a further term of five years effective October 01, 2021.
Airtel shares on Tuesday closed at 2.41% lower at Rs 536.30 on BSE. On Monday, the Sunil Mittal-led telco’s net profit for the March quarter fell 11% sequentially to Rs 759 crore.
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