MUMBAI, March 28 India's Bharti Airtel
said it sold a 10.3 percent stake in its telecom tower unit
Bharti Infratel to U.S. private equity firm KKR & Co
LP and Canada Pension Plan Investment Board for more
than 61.9 billion rupees ($952.75 million).
Bharti Airtel will use the funds primarily to reduce its
debt, the company said in Tuesday's statement.
After closing the deal, Bharti's stake in Infratel will
stand at 61.7 percent, while KKR and Canada Pension will own
($1 = 64.9700 Indian rupees)
(Reporting by Sankalp Phartiyal; Editing by Randy Fabi)