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Singapore Telecommunications to acquire 7.39% stake in Bharti Telecom
Singtel has entered into conditional share purchase agreements with Temasek to acquire 21% of Intouch Holdings Public Company (Intouch) and 7.39% of Bharti Telecom (Bharti Telecom) for a total consideration of S$2.47 billion.The acquisitions of the stakes in Intouch and Bharti Telecom, as well as the share placement are subject to minority shareholder and regulatory approvals. The acquisitions and share placement are interdependent and have to close at the same time.
Singtel will pay Temasek THB60.83 for each share of Intouch and Rs 235.62 for each share of Bharti Telecom. The transaction is expected to be completed by December 2016.
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