Reported about 8 hours ago
Singtel has sold a 0.8% stake in India's Bharti Airtel for approximately $1.16 billion as part of its ongoing asset restructuring strategy. This divestment, through the sale of 51 million shares at a discounted price, aims to support Singtel's S$9 billion asset recycling programme to invest in digital infrastructure. Since 2000, Singtel has gradually reduced its holding in Bharti Airtel, now owning 27.5% of the company, down from 31.4% in 2022, realizing significant gains due to Bharti Airtel's increased share value.
Source: YAHOO