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Singapore Telecommunications (SingTel) has recently announced that it is paying around $393 million to increase its stake in India’s Bharti Airtel to 31.95%, up from 30.43% currently. The company is buying the shares though its investment arm, Pastel.
In the other SingTel news, the carrier is reportedly considering the sale of a minority stake in its Australian subsidiary, Optus, in a move that could raise anywhere between $4 billion and $5 billion.
However, it is said that the plan is still at an early stage and nothing is expected to happen until late 2010 at the earliest. If this goes through, however, the carrier will use the funds to invest in emerging markets.
“There’s not too much money to be made in Australia; it’s a mature market and competition is very intense,” one source said, adding, “Right now SingTel is thinking of selling a minority stake, but this can change depending on market conditions.”
[Via: CellularNews]
About The Author
Dusan Belic
Dusan has been using smartphones since their introduction and is now following the latest trends in the industry. The "convergence" is what he's most excited about, and writing about it is the next logical thing to do. He thinks that using a smartphone is what everyone who cares about their time should do. In addition to his interests in mobile phones, Dusan also loves to experiment with the latest web and mobile 2.0 services. The idea of accessing and managing your information from any device no matter where you are simply amazes him. Whether it's an online to-do list, note taking service or a video sharing social network, he's there to try it out. He admits though, he's still searching for the ultimate web-based organizational tool, which "sings" perfectly with the mobile PIM application. Dusan used to run SymbianWatch.com which later became part of IntoMobile. He lives in Serbia, South-East Europe, from where he edits the site on a daily basis.
