Qatar Foundation to take Bharti board seat
Doha, May 4, 2013
Qatar will be taking a board seat and plans to be an active investor in Bharti Airtel, the Indian telecoms group in which one of its investment vehicles has agreed to buy a 5 per cent stake, a person close to the Qataris said.
"QFE (Qatar Foundation Endowment) will be taking a board seat and this shows that on this one they'll be active investors and will have a say on the company's future," the source said.
"Qatar is in for the very long term," the person added.
Through its various holding companies, Qatar owns stakes in a variety of companies but rarely plays a publicly active role. Last year, it surprised investors by forcing Glencore to raise its takeover offer for Xstrata.-Reuters