Singtel said to be planning US$2b Intouch, Bharti stake purchases
Singapore
SINGAPORE Telecommunications (Singtel), Singapore's biggest phone company, plans to spend about US$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, likely to be funded in cash, is aimed at boosting Singtel's market share in the two markets, the people said, asking not to be named because the information is not yet public.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Electrolux Q1 loss nearly triples on weak demand but beats expectations
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters