Singtel sells $1.5B interest in Airtel

Singtel sells $1.5B interest in Airtel

Singtel offloaded about 1.2 per cent of its stake in Bharti Airtel for SGD2 billion ($1.5 billion), as part of the Singapore-based operator’s strategic reset announced in 2021, with a focus on capital management. The sale, generating a gain of about SGD1.4 billion, reduces Singtel’s stake in India-headquartered Airtel from 29.5 per cent to 28.3 per cent, valued at an estimated SGD489 billion. The transaction by Singtel subsidiary Pastel was exec…