Singtel Sells Stake in Bharti Airtel for SGD 2 Billion
Singtel sold a 1.2% stake in Bharti Airtel for SGD 2 billion, optimizing its asset portfolio. This move is part of Singtel's strategy to drive shareholder returns. The sale, made to institutional investors, leaves Singtel with a 28.3% stake in Airtel, valued at SGD 8 billion.
- Country:
- India
Singtel has divested 1.2% of its direct stake in Bharti Airtel, the telecom giant, for SGD 2 billion, aligning with its active capital management strategy. The transaction, primarily involving institutional investors, aims to optimize Singtel's asset portfolio and enhance shareholder returns.
The sale was executed on a private placement basis, drawing strong interest from global and domestic mutual funds. Singtel continues to be a significant shareholder in Airtel with a 28.3% stake, which remains a core long-term strategic investment, valued at approximately SGD 8 billion.
This capital move underscores Singtel's dedication to disciplined asset management, affirming its commitment to funding growth initiatives, particularly in 5G and digital infrastructure expansion. Bharti Airtel shares closed at Rs 1,814.35 on BSE, reflecting a slight decline post-transaction.
(With inputs from agencies.)
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