SingTel ups its Bharti stake for USD250 million

20 May 2005

Singapore Telecom (SingTel) reported today that it has agreed a deal worth USD252 million to increase its stake in Indian holding company Bharti Telecom to 32.81% from 26.96%. The purchase consequently ups SingTel’s holding in telco Bharti Tele-Ventures to 30.84% from 28.16%.

Elsewhere, SingTel confirmed earlier this week that it had entered talks to acquire a 60% stake in Bangladeshi mobile operator PBT (Pacific Bangladesh Telecom) for an estimated USD100 million. It is also bidding for a 26% stake in Pakistan Telecommunications, worth USD1.5 billion. SingTel has invested around USD20 billion in the last few years to purchase stakes in Asian telecoms companies.

Bangladesh, India,SingTel Group, Bharti Airtel, Pacific Bangladesh Telecom Limited (CityCell), SingTel International,

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