Published On: Mon, Feb 5th, 2018

Singapore’s Singtel Increases Stakes in Bharti Telecom to 48.9%

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Singtel

Singtel one of the well knows Singaporean telecommunication giant has bought stakes in Bharti Telecom of India and this eventually will raise the stakes of the company in the Bharti Airtel the holding company near 50 percent. The Singtel is expected to invest $143 million on acquiring formers shares.

According to Chief Executive Officer of Singtel, Arthur Lang Airtel has bright future prospects and its penetration ratio, as well as data adoption of smartphones and mobiles, is highly demanded in India. The business environment is facing the tough time in India but we have locked our visions to future progress.

The prices are greatly sabotaged by the price war in the telecommunication sector of India and it was aggravated by the entry of carrier Reliance Jio, in recent times.

The 26.5 billion rupee investment by Singtel will take stakes of the company to 48.9 percent up by 1.7% in Bharti Telecom. Also, this investment will takes stakes in Bharti Airtel to 39.5% a rise of 0.9%.

Singaporean mobile firm has bought stakes in other mobile companies outside its hometown and it makes 75% of its total earnings. The bucket of stakes it holds has shares of many firms located regionally.

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