Singtel sells 0.8% stake in Bharti Airtel for $1.5b

The transaction is estimated to generate a gain of $1.1b.

Singtel has sold 0.8% of its direct stake in regional associate Airtel, realising $1.5b through a private placement to institutional investors.

The transaction, part of Singtel's ongoing portfolio optimisation and asset recycling, is estimated to generate a gain of $1.1b.

Singtel Group Chief Financial Officer, Arthur Lang, stated the company retains a significant stake and remains invested in India's digital economy.

Moreover, the divestment added $5.6b in generated funds to the group’s active capital management program, surpassing half of its new mid-term asset recycling target of $9b.

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