(Alliance News) - Network i2i Ltd has sold its entire holding in telecommunications infrastructure company Helios Towers PLC for GBP36.9 million.
The Bharti Airtel subsidiary sold 23.1 million shares - a 2.3% stake in FTSE 250-listed Helios - for GBP1.60 each.
Helios shares were trading 7.3% lower at 166.83 pence each on Thursday morning in London, but they are 13% higher than at the start of the year.
Citigroup Global Markets Ltd and BofA Securities acted as joint bookrunners in relation to the offering.
Helios Towers will not receive any proceeds from the placing, as it was of existing shares.
By Ife Taiwo; ifetaiwo@alliancenews.com.
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Helios Towers (HTWS)