Bharti Airtel has sold a 10.3 percent stake in its telecom tower unit Bharti Infratel to KKR & Co LP a  U.S. private equity firm and Canada Pension Plan Investment Board for more than Rs 61.9 billion (USD 952.75 million).

It has said in a statement that the company will be using the funds primarily for reducing its debt.

Bharti Airtel’s stake in Infratel, after the close of the deal, will stand at 61.7 percent whereas KKR and Canada Pension will own 10.3 percent.

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