SingTel Plans To Raise Stake In Indian Unit

News: Singapore-based telecoms company SingTel is considering plans to increase its stake in Indian ILD services provider SingTel Global from 74% to 100%, reports TeleGeography. The company is seeking approval from Indian Foreign Investment Promotion Board (FIPB) for the move. SingTel said that, under the plan, minority shareholders Leela Lace Software Solutions and Bharti Enterprises will divest their holdings of 16.01% and 9.9% respectively, while SingTel Australia Holdings, which owns 73.99% of the Indian subsidiary, will purchase their combined stake.

This article is tagged to:
Sector: Telecommunications
Geography: India

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