SingTel increases stake in Bharti Airtel to 32.15%

NEW DELHI: Singapore Telecommunications (SingTel), has increased its stake in the country's largest telecoms company by both revenues and customers Bharti Airtel by an additional 0.11% after it acquired shares worth 136 crore from the open market.

As a result, SingTel's interest in Airtel has increased to 32.15% from 32.04%.

SingTel is the largest shareholder in Bharti Airtel, which offers mobile services in India, Sri Lanka, Bangladesh and several countries in Africa.

SingTel through its wholly-owned subsidiary, Viridian, has purchased 40.75 lakh shares of Bharti Airtel for 136 crore (S$39 million), SingTel said in a regulatory filing to the Singapore Stock Exchange. "The purchase consideration was determined by the prevailing market price of Airtel on the relevant stock exchange," the company added.

Scrips of the Singtel Communications increased by 0.66% and closed at S$3.07 on Wednesday. Shares of Bharti Airtel closed at 339.20 on the BSE, up 0.10% from the previous close.