Singtel clarifies $12.7b STT GDC deal talks are ‘advanced but non-binding’

The response follows reports that a KKR-led group is eyeing the data centre operator.

Singapore Telecommunications Limited (Singtel) said discussions involving STT GDC Pte. Ltd. are ongoing but remain non-binding, following market reports that a KKR-led group is in talks to acquire the data centre operator at a valuation of over $12.72b (US$10b).

The statement was issued in response to a media report published by The Wall Street Journal, according to a bourse filing dated 1 February.

Singtel said it continues to hold discussions as part of a consortium in relation to STT GDC, and whilst discussions are at an advanced stage, there is no certainty they will result in any definitive or binding agreement.

The company added that it would announce if and when there are material developments that require disclosure under the listing rules of the Singapore Exchange.

Investors are encouraged to exercise caution when dealing in its securities ahead of any formal announcement.

$1 = US$0.79

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