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Singtel trims Airtel stake in rights deal
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Annabeth Leow
Published Thu, Mar 7, 2019 · 09:50 PM
Singapore
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 per cent last year - cut to 35.2 per cent, assuming full subscription for the rights.
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