Singtel to sell Bharti Airtel shares worth ₹12,900 crore

It was announced today that Singtel, a Singapore-based telecommunications company has sold their stake in Bharti Airtel

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The sale will completion prior to occurring on July 2nd and marks an effective reduction from 31% down 29%.

The company has said that it will be depositing a significant amount of cash into an escrow account in order to partially divest its stake

This follows upon announced plans earlier this year where they revealed the intentions behind investing

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The partiality regarding Bharti Air'tels' operations isn’t just limited within their home country

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The largest telecom business in Southeast Asia, Singtel announced on August 25 that it would sell its stake to Bharti Telecom Ltd for about $1 billion.

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In a historic transaction, we are pleased to announce that the sale and transfer of our company will be executed any time before 23 November 2022

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The aggregate consideration for this acquisition is approximately SGD2 billion (₹12900 crore).

With its portfolio simplifying, Singtel is reportedly considering options for disposing of an advertising platform

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It might even sell Trustwave Holdings Inc., a cyber security company and some fibre assets in order to capitalise on future growth

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