India's Bharti Enterprises said Wednesday it may sell a part of its stake in Bharti AXA Investment Managers or completely exit the joint venture with France-based AXA Investment Managers.

"Bharti is a minority partner in the asset management JV with AXA. The JV will be seeking to open discussions with a potential partner in the banking industry to strengthen its distribution capabilities," Bharti said in a statement.

"As a result, Bharti might dilute its stake or exit if necessary at an appropriate time," it said.

The holding firm of mobile services provider Bharti Airtel Ltd. (532454.BY) also said the decision won't impact its existing insurance venture with AXA S.A. (CS.FR).

The Business Standard newspaper reported Wednesday Bharti would sell its stake in the asset management venture.

-By Ameya Karve; Dow Jones Newswires; +91-22-22884212-18; ameyaanil.karve@dowjones.com