Singapore Telecom to raise stake in Airtel

     Written by : SMTV24x7 | Tue, Feb 06, 2018, 01:08 PM

Singapore Telecom to raise stake in Airtel

New Delhi Feb 6: Singapore Telecommunications Ltd (Singtel) said that it will raise its stake in Bharti Airtel Ltd by investing Rs2,649 crore in Bharti Telecom Ltd.

Bharti Airtel said in a statement on Monday has said that "The investment comes within two years of Singtel's participation in Bharti Telecom's rights issue of Rs2,500 crore, which was completed in February 2016,".

Sources said that "Singtel's total stake (along with its affiliates) in Bharti Telecom will increase to 48.9% from 47.17% currently.The Mittal family owned Bharti Enterprises continues to hold over 50% stake in Bharti Telecom."

Experts have said that "The transaction is sentimentally positive for Airtel. It is a sign of confidence by Singtel in Airtel".