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.