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.