A day later, Singtel announced it will be selling 198 million shares or a 3.3% stake in Bharti Airtel to Bharti Telecom for a consideration of $2.25 billion. This sale, which will see an estimated $0.6 billion net gain on divestment for the telco, is part of the group’s capital recycling strategy.
This week has been an interesting one for Singapore Telecommunications (Singtel).
On Aug 24, it released its 1QFY2022 ended June business update, which saw net profit grow by 43.4% y-o-y to $628 million and underlying operating revenue increase by 4.1% y-o-y to $3.6 billion.
