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Bharti to Sell $1 Billion Stake in Unit to Investors

Bharti Airtel Ltd., India’s largest mobile-phone operator, agreed to sell a $1 billion stake in an infrastructure subsidiary to investors including Temasek Holdings Pte, Goldman Sachs Group Inc., and Citigroup Inc. Temasek, Singapore’s state-owned investment fund, will be the largest investor in the unit, New Delhi-based Bharti said in a statement to the Bombay Stock Exchange today. The subsidiary, Bharti Infratel, is India’s largest operator of towers for telecommunications.

Bharti Airtel, controlled by billionaire Sunil Mittal, can use the proceeds to help lure subscribers from Vodafone Group Plc, the world’s largest mobile-phone services provider. India added a record 8.3 million mobile phone subscribers in November, taking the total to 217 million.

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