Warburg sells 3% stake in Bharti

P>MUMABI: Private equity firm Warburg Pincus sold 2.9 percent of its holding in Bharti Tele-Ventures Ltd., India's top listed mobile firm, for about Rs 1,194.37 crore ($273 million), banking sources informed.

The private equity fund held 15.17 percent prior to the sale. Singapore Telecommunications Ltd. owns 28 percent in Bharti.

The sale was struck through two block deals on the Mumbai exchange at an average price of Rs 217 ($4.96) per share, exchange data showed.