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

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.

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.

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,