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Singtel trims Airtel stake in rights deal

Sachin Mittal, head of telecommunications, media and technology research at DBS, believes that “Bharti’s worth is almost zero in Singtel’s share price” against a Bharti Airtel stake that would be valued at more than S$9 billion based on market capitalisation.


MAINBOARD-LISTED Singtel will subscribe in part to Indian associate telco Bharti Airtel's rights issue, it confirmed in a statement on Thursday.

But a renunciation in favour of Singapore sovereign wealth fund GIC will see Singtel's effective stake - which it upped to 39.5...

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