Cellco Singapore Telecommunications (SingTel) has bought about four million shares in Indian telco Bharti Airtel for Rs1.36bn (US$30m) via an open market purchase, according to a notice sent to the Singapore Stock Exchange.
With this acquisition, the…
Cellco Singapore Telecommunications (SingTel) has bought about four million shares in Indian telco Bharti Airtel for Rs1.36bn (US$30m) via an open market purchase, according to a notice sent to the Singapore Stock Exchange.
With this acquisition, the company increases its stake in the Indian company from 32.04% to 32.15%. Bharti Airtel is majority-owned by Indian conglomerate Bharti Enterprises (about 63%).
SingTel, which did not give any explanation for that stake increase, could not be reached before going to press.
