Bharti Airtel's fundraising dials up India duopoly - NewsBreak

MUMBAI, Aug 30 (Reuters Breakingviews) - Bharti Airtel (BRTI.NS) is dialling up the differences. India's second largest telecom operator by subscribers announced plans for a rights issue to raise 210 billion rupees, about $2.9 billion. It puts the $44 billion group on a stronger financial footing to weather an ongoing price war and face a 5G rollout. Shares will be offered at a not-too-large discount of 10% to Friday's closing price, and the deal is underwritten by top investor Sunil Mittal Bharti. It underscores a solid position in a cutthroat industry.