Singtel

Singapore Telecommunications on Thursday posted an 18.2% jump in third-quarter underlying profit, driven by stronger performance of its partly-owned Bharti Airtel

Pastel Ltd, an entity of Singtel, on Thursday divested 1.59 per cent stake in Bharti Airtel for Rs 7,261 crore through an open market transaction. The stake has been picked by Bharti Airtel's promoter Bharti Telecom Ltd, as per block deal data with the National Stock Exchange (NSE). According to the data, Pastel offloaded 9,40,00,000 shares, amounting to 1.59 per cent stake in the company. The shares were disposed of at an average price of Rs 772.5 apiece, taking the transaction value to Rs 7,261.50 crore. Pastel Ltd is a unit of Singapore Telecommunications Ltd (Singtel). Post this transaction, Pastel's shareholding in Bharti Airtel will decrease to 10.62 per cent from 12.21 per cent. At the end of the June quarter, Pastel held 13.84 per cent stake in the firm, shareholding data with the bourse showed. Bharti Group Chairman Sunil Bharti Mittal's family and Singtel are co-investors in Bharti Telecom Ltd (BTL). In early September, Singtel entities had jointly sold a 1.76 per cen

Singtel entities have jointly offloaded a 1.76 per cent stake in Bharti Airtel for about Rs 7,128 crore, according to sources. Bharti Airtel promoter Bharti Telecom Ltd has bought a 1.63 per cent stake from Singtel entity Pastel Ltd for Rs 6,602 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Bharti Telecom purchased 9,62,34,427 shares, amounting to a 1.63 per cent stake in the company. The shares were acquired at an average price of Rs 686 apiece, taking the transaction value to Rs 6,601.68 crore. The shares of Bharti Airtel Ltd were sold by Pastel Ltd, a unit of Singapore Telecommunications Ltd (Singtel). According to sources, Viridian also offloaded about 1 crore shares. "Singtel entities have jointly offloaded a total of 1.76 per cent shares on Wednesday. Bharti Telecom has acquired 96 million shares while public has acquired around 7 million shares offloaded by Singtel group firms. "Post this transa

Transaction to cost around Rs 12,900 crore; family currently owns 24.13% stake in Airtel

As per a media report, Mittals are in talks with some major banks like BNP Paribas, Bank of America, Citibank, JPMorgan, and Standard Chartered to raise over $2 billion

Singtel seeks to unlock value of regional associate companies

Singtel's effective stake in Bharti Airtel is 31.7 per cent. It holds a 49.44 per cent stake in Mittal family owned firm Bharti Telecom

Singapore Telecommunications, Southeast Asia's largest telecommunications operator, said it has bought a 16.3% stake in PT Bank Fama International for 500 billion rupiah ($34.9 million)

The cost of the transaction is "up to 6 million Singapore dollars, including the value of net assets, subject to customary closing adjustments", Infosys said in a regulatory filing

The company also credited the outstanding results to the improved performance of regional associates especially Bharti Airtel

The company almost halved its final dividend to 5.45 Singapore cents a share, down from 10.7 cents announced last year

Bharti Airtel subscribers comprise almost 58% of Singtel's global subscriber reach

After this purchase, the combined stake of Singtel and its subsidiaries in Bharti Airtel will rise to 36.3 per cent, from 33 per cent now

Singtel will acquire Temasek's 7.39 per cent stake in Bharti Telecom and another 21 per cent stake in Thai telecom firm Intouch Holdings PCL for a total consideration of $ 1.8 bn

The company has built a portfolio of stakes in regional mobile associates as it hunts for growth outside its small home market of Singapore

Singapore Telecommunications Ltd, the city-state's biggest phone company, plans to spend about $2 billion to invest in Thailand's Intouch Holdings Pcl and raise its stake in India's Bharti Telecom Ltd, according to people with knowledge of the matter. The planned investment is likely to be funded in cash, the people said, asking not to be named because the information is not yet public. Singtel also plans to issue new stock to its biggest shareholder, Temasek Holdings Pte, which will boost the Singapore state-owned investment firm's stake in the phone company to about 55 per cent from 51 per cent, one of the people said. The share purchases in the parent companies of the largest mobile-phone operators in India and Thailand would give Singtel a bigger foothold in the two markets. Singtel owns more than a fifth of Advanced Info Service Pcl, making it the biggest investor of the Thai mobile phone company after Intouch. It also owns a stake in Bharti Airtel Ltd through Bharti Telecom, whos