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Singtel buys Temasek shares in AIS, Airtel for SGD 2.5 bln
2016-08-18 09:20:00| Telecompaper Headlines
(Telecompaper) Singtel has agreed to raise its stakes in Thailand operator AIS and India's Bharti Airtel. The company will buy Singapore investment company Temasek's 21 percent pf Intouch Holdings, the largest shareholder in AIS, and 7.39 percent of Bharti Telecom, the holding company for Airtel, for a total consideration of SGD 2.47 billion cash. Singtel said it will fund the deal with internal cash, short-term debt and proceeds from the sale of 386 million new Singtel shares to Temasek. The transaction is subject to regulatory and minority shareholder approvals and is expected to be completed by December.
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Category:Telecommunications