Singapore Telecommunications (SG:Z74) has released an update.
Singapore Telecommunications Limited (Singtel) announced the sale of 49 million shares in Bharti Airtel Limited (BAL), generating approximately SGD0.95 billion. The sale, carried out through Singtel’s subsidiary Pastel Limited, resulted in Singtel’s effective stake in BAL reducing from 29.8% to 29.0%. The transaction was executed on the National Stock Exchange of India and based on the volume weighted average price, the sale shares had an open market value of about SGD0.93 billion.
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