The sale of this loss-making business has been on the cards from as far back as 2021, as part of a strategic review the telco made.
DBS Group Research has kept its "buy" call and $3.18 target price on Singapore Telecommunications (SGX:Z74
) , following news that the telco has "finally" divested its loss-making cybersecurity business Trustwave.
In its Oct 2 announcement, Singtel says it has sold its 98% interest in Trustwave to MC2 Titanium for US$205 million, or $280 million.
