India's Bharti Airtel falls after stake sale by SingTel

Bharti Airtel BRTI.NS down 2.7% to 1,816 rupees; among top losers on Nifty 50 .NSEI, which is trading 0.24% lower

Singapore Telecommunications STEL.SI said it sold 71 million shares of BRTI at a price of 1,814 rupees apiece - reflecting a 2.9% discount on Thursday's closing price

*STEL sold 1.2% of its direct stake in BRTI for S$2.0 billion ($1.54 billion); added that post transaction it will hold 28.3% stake in Airtel

CLSA says stake sale shouldn't come as surprise as it's part of STEL's efforts to equalise shareholding with the Mittal Group in BRTI

YTD, BRTI gains 14.4%

($1 = 1.2946 Singapore dollars)