Bharti Airtel Shares: Jefferies maintains “Buy” with revised target price. Key triggers
The sale of Singtel’s 3.3% stake to Bharti Telecom (BTL) will result in a 1.7% increase in Mittal Family’s stake to 25.5%, which global brokerage Jefferies views positively. However, it will increase BTL’s debt, which will require higher dividends from Bharti to service interest and ultimately lead to the sale of BTL’s stake in Bharti Airtel to repay the debt, it said in a note. .