Singtel to raise stake in Bharti Telecom for $659mn
Singapore Telecommunications on Thursday said it will buy Temasek's 7.39% stake in Bharti Telecom, which owns 45.09% in India's largest telecom firm Bharti Airtel, for $659.5 million. This will take Singtel's total holding in Bharti Airtel from 32.9% to 36.2%. Further, Singtel will acquire another 21% stake in Thai telecom firm Intouch Holdings, taking the total consideration to $1.8 billion.