Qatar Foundation buys US$1.26bn stake in Bharti Airtel

Bharti Airtel's group chairman, Sunil Mittal. (Image source: Bharti Airtel)Bharti Airtel's group chairman, Sunil Mittal. (Image source: Bharti Airtel)Qatar has bought a five per cent stake in Indian telecoms company, Bharti Airtel, for US$1.26bn

The deal, designed to strengthen Bharti Airtel's capital structure and fund its future growth plans, is being channelled through Qatar Foundation Endowment, a non-profit organisation wholly-owned by Qatar's royal family.

"QFE is in for the long-term," an unnamed source close to QFE told Reuters, before confirming that QFE would secure a seat on Bharti Airtel's board.

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