Singapore Hot Stocks-SingTel rises on report of possible C&W bid

SINGAPORE, Sept 6 (Reuters) - Shares of Singapore Telecommunications (STEL.SI), Southeast Asia's largest telcom firm, rose 0.65 percent in early trade after a British newspaper report that the firm was considering a bid for Cable & Wireless Worldwide (CWP.L).

Some 1.6 million shares had changed hands in initial deals.

The Independent reported on Sunday SingTel had contacted bankers in Asia and Europe to discuss the idea. [ID:nLDE68409C]

In Singapore, SingTel officials refused to confirm or deny the report.

"We do not comment on market speculation," a spokeswoman for the company said. (Reporting by Eveline Danubrata; Editing by Raju Gopalakrishnan)