PRINT THIS PAGE US Warburg Pincus sells $560m in Bharti Tele-Ventures stock15/03/2005. Source: AltAssets. 
 US-based Warburg Pincus has confirmed that it has sold $560m in Indian Bharti Tele-Ventures stock. This is the third time Warburg Pincus has sold shares in Bharti.
Charles R Kaye, co-president of Warburg Pincus said that the sale is a continued validation of the growing depth and maturity of the Indian equity markets. 'Bharti has become a leading provider of telecommunications services with a customer base in excess of 11 million subscribers and a market cap exceeding $10bn. Bharti is a compelling growth story and the company continues to attract interest from investors around the world,' he added.
Warburg Pincus still holds 108.1 million of Bharti stock, a position that represents 5.8 per cent of the company. Originally it owned 18.5 per cent.
Kaye underlined Warburg Pincus' commitment to Bharti: 'We continue to work with Bharti and are supportive of our participation in Bharti's previously announced ADR offering. Warburg Pincus is proud of our association with Bharti over the last six years and we remain confident about the future prospects of the company.'
Bharti Tele-Ventures is a private sector provider of telecommunications services in India with a customer base of 11.5 million.
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