Singtel sells 1.2 per cent stake in Bharti Airtel

Singtel on Friday said it has sold about 1.2 per cent of its direct stake in Bharti Airtel for SGD two billion (roughly $1.5 billion) in sync with its active capital management approach to optimise its asset portfolio and drive shareholder returns. Following the sale of 1.2 per cent equity, Singtel will hold a 28.3 per cent stake in India’s second-largest telecom operator Airtel. The transaction was executed on a private placement basis to international and Indian institutional investors, including existing shareholders of Airtel, according to Singtel.