February 5, 2018 / 12:54 AM / 3 months ago

BRIEF-Singapore Telecommunications To Raise Stake In Bharti Telecom

Feb 5 (Reuters) - Singapore Telecommunications Ltd :

* SINGTEL TO SUBSCRIBE TO NEW SHARES IN BHARTI TELECOM UNDER A PROPOSED PREFERENTIAL ALLOTMENT

* SINGTEL INTERNATIONAL INVESTMENTS WILL SUBSCRIBE TO NEW SHARES IN BHARTI TELECOM UNDER PROPOSED PREFERENTIAL ALLOTMENT

* WILL ‍INCREASE SINGTEL’S STAKE IN BHARTI TELECOM BY UP TO 1.7% FOR ABOUT INR26.5 BILLION OR S$555.6 MILLION​

* UNIT WILL BE ALLOTTED UP TO 85.5 MILLION NEW EQUITY SHARES IN BHARTI TELECOM AT AN ISSUE PRICE OF INR310 PER EQUITY SHARE

* ‍THROUGH THE ALLOTMENT, SINGTEL’S ECONOMIC INTEREST IN BHARTI​ AIRTEL WILL INCREASE BY 0.9 PERCENT POINT TO 39.5% Source text for Eikon: Further company coverage:

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