“Singtel has been working closely with Bharti Enterprises to gradually equalise our effective stake in Airtel over time,” says Arthur Lang, Singtel’s group chief financial officer. “These transactions allow us to unlock value when appropriate, yet continue to retain a significant stake in Airtel and remain invested in India's burgeoning digital economy.”
Singapore Telecommunications (Singtel) has sold yet another 0.8% in its associate, Airtel, for $1.5 billion.
The transaction was conducted via a private placement to institutional investors. Singtel will book a gain of $1.1 billion from the sale.
