Singtel to sell US$1 billion stake in Bharti Airtel via block deals: report
[BENGALURU] Singapore Telecommunications (Singtel) is expected to sell shares worth US$1 billion in Indian telecom major Bharti Airtel on Friday (May 16) through block deals, the Business Standard newspaper reported on Thursday, citing sources.
South-east Asia's largest telecom operator, Singtel, is looking to sell 47.6 million Airtel shares at a floor price of 1,800 rupees a share, a 3.6 per cent discount to the stock's last close, the report said.
JP Morgan is likely to be the broker for the deal, it added.
Singtel has been reducing its stake in Airtel for a while. In March last year, it sold shares worth US$711 million to GQG Partners.
It held a 9.49 per cent stake in Airtel through its affiliate Pastel, according to exchange data as at March-quarter.
Airtel and Singtel did not immediately respond to Reuters requests for comments. REUTERS
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Times
an hour ago
- Business Times
Sembcorp's renewables unit wins 50MW round-the-clock power project from Indian public sector company
[SINGAPORE] Sembcorp Industries on Thursday (Jun 12) announced that its wholly owned renewables subsidiary Sembcorp Green Infra was awarded a 50 megawatt (MW) round-the-clock power project from Solar Energy Corporation of India (SECI), an Indian public-sector company. Under the build-own-operate project, Sembcorp will integrate around 300 MW of installed capacity that comprises solar and wind energy as well as battery energy storage solutions, to meet a contracted capacity. Once the project is complete, it will then supply round-the-clock renewable power, supported by battery energy storage solutions, to SECI. This is subject to the execution of a 25-year power purchase agreement with SECI. The project is expected to be ready for commercial operations within 24 months from the date the agreement is signed, Sembcorp said. It will be financed through a mix of internal funds and debt. With the project, Sembcorp will expand its renewables capacity in India to more than 6.5 gigawatts (GW). The group said its global renewables portfolio has reached 18 GW, including acquisitions pending completion. Sembcorp said the award of the project is not expected to have material impact on its earnings per share and net tangible assets per share for the fiscal year ending December. Shares of Sembcorp were trading 0.3 per cent or S$0.02 higher at S$6.77 as at 12.58 pm on Thursday.
Business Times
an hour ago
- Business Times
Sembcorp's renewables unit wins round-the-clock power project from Indian public sector company
[SINGAPORE] Sembcorp Industries on Thursday (Jun 12) announced that its wholly owned renewables subsidiary Sembcorp Green Infra was awarded a round-the-clock power project from Solar Energy Corporation of India (SECI), an Indian public-sector company. Under the build-own-operate project, Sembcorp will integrate around 300 megawatts of installed capacity that comprises solar and wind energy as well as battery energy storage solutions, to meet a contracted capacity. Once the project is complete, it will then supply round-the-clock renewable power, supported by battery energy storage solutions, to SECI. This is subject to the execution of a 25-year power purchase agreement with SECI. The project is expected to be ready for commercial operations within 24 months from the date the agreement is signed, Sembcorp said. It will be financed through a mix of internal funds and debt. With the project, Sembcorp will expand its renewables capacity in India to more than 6.5 gigawatts (GW). The group said its global renewables portfolio has reached 18 GW, including acquisitions pending completion. Sembcorp said the award of the project is not expected to have material impact on its earnings per share and net tangible assets per share for the fiscal year ending December. Shares of Sembcorp were trading 0.3 per cent or S$0.02 higher at S$6.77 as at 12.58 pm on Thursday.
Straits Times
an hour ago
- Straits Times
Trump unveils website for $6.4m US residency visa
The visas are not available yet, but the website announced on June 11 allows interested parties to submit their details. PHOTO: AFP Washington - President Donald Trump touted a new website for his planned US$5 million (S$6.4 million) US residency permit on June 11, saying the waiting list for the golden visa has opened on 'Thousands have been calling and asking how they can sign up to ride a beautiful road in gaining access to the Greatest Country and Market anywhere in the World,' he wrote in a social media post. Mr Trump unveiled the first such visa aboard Air Force One in April, holding a golden prototype that bore his face and promising the special permit would probably be available 'in less than two weeks'. The visas are not available yet, but the website announced on June 11 allows interested parties to submit their name, desired visa and email address under a header that says 'The Trump Card is Coming'. Mr Trump previously said the new visa, a high-price version of the traditional green card, would bring in job creators and could be used to reduce the US national deficit. The announcement comes as deportation raids are being ramped up across the country, prompting protests, and as Mr Trump's administration faces ongoing lawsuits and accusations of rights violations over its anti-immigration blitz. Mr Trump has said the new card would be a route to highly prized US citizenship. He said in February that his administration hoped to sell 'maybe a million' of the cards and did not rule out that Russian oligarchs may be eligible. AFP Join ST's Telegram channel and get the latest breaking news delivered to you.
