Mumbai: Airtel, one of the country's leading mobile service providers, is now likely to take over overseas. Singapore's telecom giant Singtel is gearing up to stake its stake in Bharti Telecom by more than 50 percent in the coming days. As soon as Bharti Telecom reaches foreign hands, its entire participation in Airtel will be in the category of foreign investment.

Bharti Airtel said Bharti Telecom Limited may make changes in partnerships to clear some of its old loans. This will increase the participation of some existing promoters including Singtel. With a slight change in foreign equity, foreign investment in Bharti Telecom will go up to over 50 percent, bringing the company under foreign control. Once this happens, the entire investment of Bharti Telecom in Airtel will be in the category of foreign investment. At present, foreign participation in Airtel is 43 percent.

After the change, the total foreign participation will increase to around 85 percent. According to sources, while clarifying the proposed investment proposal, Airtel has applied for 100 percent FDI clearance for the second time. Bharti Telecom has the highest 41 percent stake in Bharti Airtel. On the other hand, Sunil Bharti Mittal and his family share in Bharti Telecom is around 52 percent.

After the proposed investment, Singtel's share in Bharti Telecom will be 52 percent and the control will reach Singtel's hands. Airtel can reduce its debt by using the investment from Singtel after this percentage. According to statistics, the company had a total loan of Rs 1,16,645.8 crore as of June 30 this year. In fact, many telecom companies have come under pressure after Jio entered the market.

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