The Business Times
business-time-50
NEWS ANALYSIS
·
SUBSCRIBERS

No longer a ‘boring’ telco: Singtel’s multibillion-dollar data centre bet with KKR to power its transformation

By teaming up with KKR to take a controlling stake in STT GDC, the telco is moving from the regional league to the global main stage

Summarise
google-preferred-sourceAdd BT as a preferred source
Jude Chan

Jude Chan

Published Wed, Feb 4, 2026 · 01:39 PM
阅读简体中文版 (beta)
    • STT Singapore 6 (above). Despite the heavy investment in data centres, Singtel’s dividend yield is projected to remain one of the most attractive among the blue-chip constituents of the STI.
    • STT Singapore 6 (above). Despite the heavy investment in data centres, Singtel’s dividend yield is projected to remain one of the most attractive among the blue-chip constituents of the STI. PHOTO: STT GDC

    [SINGAPORE] When the market whispers about a S$13.8 billion deal, people usually listen. But when Singtel and private equity giant KKR are the ones doing the talking – and the target is ST Telemedia Global Data Centres (STT GDC) – the market doesn’t just listen; it rallies.

    Singtel shares climbed 1.1 per cent on Monday (Feb 2) on reports over the weekend that a KKR-Singtel consortium was nearing a deal. Sovereign wealth funds GIC from Singapore and Mubadala from Abu Dhabi were also said to be in talks to join as minority co-investors.

    As anticipation built, shares of the Singapore-listed telecom company soared another 4.7 per cent on Tuesday to close at S$4.86. It opened at S$4.95 on Wednesday, after the deal was announced earlier in the morning.

    Hock Lock SiewSingtelArtificial IntelligenceKKRData centres

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    Senior Minister of State for Digital Development and Information Tan Kiat How said the government is working with partners who have access to Anthropic's Mythos to understand its capabilities.

    MAS convenes bank CEOs over AI cyberthreats; boards told to own risks, not leave to IT teams

    Electric vehicles and the changed dynamics of mainstream and luxury car segments mean Certificates of Entitlement should not be used to classify cars.

    Is it time to scrap COE categories for cars? 

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More