{"id":58061,"date":"2018-02-05T07:19:45","date_gmt":"2018-02-05T07:19:45","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=58061"},"modified":"2018-02-05T07:19:45","modified_gmt":"2018-02-05T07:19:45","slug":"singtel-to-spend-up-to-413-million-to-nudge-up-stake-in-indias-bharti-telecom","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/technology\/singtel-to-spend-up-to-413-million-to-nudge-up-stake-in-indias-bharti-telecom.html","title":{"rendered":"Singtel to spend up to $413 million to nudge up stake in India&#8217;s Bharti Telecom"},"content":{"rendered":"<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Singtel to spend up to $413 million to nudge up stake in India&#8217;s Bharti Telecom<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Singapore Telecommunications (Singtel) said it would spend up to $413 million on shares in India\u2019s Bharti Telecom, lifting its stake slightly in the holding company for Bharti Airtel to just under half.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">\u201cWhile there are currently headwinds in India, we take a long-term view of our investment in Airtel which continues to be a strong market leader in a region with rapidly increasing smartphone penetration and mobile data adoption,\u201d Arthur Lang, CEO International at Singtel, said in a statement.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">India\u2019s telecommunications sector has been hit hard by a price war since the entry of carrier Reliance Jio, the telecoms arm of Reliance Industries Ltd, more than a year ago.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">The purchase worth as much as 26.5 billion rupees could increase Singtel\u2019s stake in Bharti Telecom by up to 1.7 percentage points to 48.9 percent and its holding in Bharti Airtel, the country\u2019s biggest mobile carrier, by up to 0.9 percentage points to 39.5 percent. The deal will be done via a preferential share allotment.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Singtel has assembled a portfolio of stakes in regional mobile firms outside its small home market, and overseas businesses now account for about 75 percent of its core earnings.<\/span><\/p>\n<p><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 8pt\">Source:-\u00a0https:\/\/www.reuters.com\/article\/us-bharti-airtel-singtel\/singtel-to-spend-up-to-413-million-to-nudge-up-stake-in-indias-bharti-telecom-idUSKBN1FP091<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/technology\/singtel-to-spend-up-to-413-million-to-nudge-up-stake-in-indias-bharti-telecom.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Singtel to spend up to $413 million to nudge up stake in India&#8217;s Bharti Telecom Singapore Telecommunications (Singtel) said it would spend up to $413 million on shares in India\u2019s Bharti Telecom, lifting its stake slightly in the holding company for Bharti Airtel to just under half. \u201cWhile there are [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":58067,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[117647,118115,117648,10438],"class_list":["post-58061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-latest-technology-news-daily","tag-singtel-to-spend-up-to-413-million-to-nudge-up-stake-in-indias-bharti-telecom","tag-technology-news-world","tag-usa-technology-news"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/58061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=58061"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/58061\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/58067"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=58061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=58061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=58061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}