Singtel commits US$405m to Bharti Airtel's 21,000 crore rupees rights issue
The move signals Singtel's confidence in India, as well as in Airtel's growth prospects
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
SINGTEL on Thursday said it intends to exercise its full rights entitlement for its direct 14 per cent stake in regional associate Bharti Airtel, to buy into the latter's 21,000 crore rupees (S$3.8 billion) rights issue at 535 rupees per share.
This translates to a total consideration of up to 29.4 billion rupees or US$405 million over a period of up to three years, said the telco in a regulatory filing, adding that the move signals Singtel's confidence in India, as well as in Airtel's growth prospects.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
StarHub hands Ensign InfoSecurity control back to Temasek in S$115 million deal, books S$200 million gain
Singaporeans can now buy record amount of yen per Singdollar
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Keppel DC Reit posts 13.2% higher Q1 DPU of S$0.02833 on strong portfolio performance
