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Qatar Foundation to take Bharti board seat, plans to be active investor - source

by FP Staff  May 4, 2013 05:15 IST

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DUBAI (Reuters) - Qatar plans to be an active investor in Bharti Airtel(BRTI.NS), the Indian telecoms group in which one of its investment vehicles has agreed to buy a 5 percent stake, a person close to the Qataris said on Friday.

"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.

(Reporting By Mirna Sleiman; Editing by Jane Barrett)

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