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Investing.com -- Sunil Bharti Mittal, billionaire founder of Bharti Airtel (NSE:BRTI) Ltd., has reduced his stake in the company, India's second-largest wireless carrier.
A company owned by Mittal, Indian Continental Investment Ltd., sold a 0.84% stake, or 51 million shares, for a total of 84.85 billion rupees ($976 million).
According to a filing with the exchange on Tuesday, nearly a quarter of the sold shares were purchased by Bharti Telecom (BCBA:TECO2m) Ltd., another company within the group.
The shares were sold at a slight discount, with each share priced at 1660.46 rupees, a little lower than Monday's closing price of 1,675.6 rupees.
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