July 7 (Reuters) - Sunil Mittal, the billionaire-founder

of Indian telecom operator Bharti Airtel, and private

equity firm Warburg Pincus have submitted a bid to acquire a 49%

stake in Haier India at a steep discounted valuation of $720

million, Business Standard newspaper reported on Monday, citing

people familiar with the matter.

(Reporting by Aleef Jahan in Bengaluru; Editing by Mrigank

Dhaniwala)