Singtel sells 1.2% stake in India’s Bharti Airtel for $1.5 bln

Published 16/05/2025, 06:12
© Reuters.

Investing.com-- Singapore Telecommunications (SGX:STEL) said on Friday it had sold about 1.2% of stake in Indian telecommunications giant Bharti Airtel (NSE:BRTI) for S$2.0 billion ($1.54 billion) through a private placement to international and Indian investors. 

Singtel said the sale was to trim some of its asset holdings and to drive more shareholder returns. 

The Singaporean firm will still retain a 28.3% stake in Airtel worth about S$48 billion. The company had raised roughly S$3.5 billion by steadily selling Airtel shares between 2022 and 2024. 

Singtel’s latest sale involved existing and new shareholders of Airtel, the company said, while the placement was “well oversubscribed.” 

Airtel shares fell nearly 3% in Indian trade, compared to a 0.3% drop in the Nifty 50. 

Singtel shares rose 1.1%. 

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