SingTel considers hiking stake in Airtel: Sources

Written By Unknown on Rabu, 09 Oktober 2013 | 23.25

Oct 09, 2013, 06.33 PM IST

Singapore Telecommunications is considering to hike its stake in Bharti Airtel to help it during the upcoming spectrum auctions in January.

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SingTel considers hiking stake in Airtel: Sources

Singapore Telecommunications is considering to hike its stake in Bharti Airtel to help it during the upcoming spectrum auctions in January.

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SingTel considers hiking stake in Airtel: Sources

Singapore Telecommunications is considering to hike its stake in Bharti Airtel to help it during the upcoming spectrum auctions in January.

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In a move to help Bharti Airtel for the spectrum auctions in January, service provider Singapore Telecommunications (SingTel) is mulling a stake hike in the company, reports CNBC-TV18's Malvika Jain, quoting sources. The telecom company is looking to partly sponsor Bharti Airtel 's bids.

SingTel has also informed the government about its decision to increase its share. The secretary of depart of telecommunications (DoT) told CNBC-TV18 that the hike in the cap on foreign direct investment (FDI) was done to provide and enable more headroom for expansion by telecom companies.

Also read: Auction may fail unless spectrum usage charge is flat: IIFL

The Singapore-based company currently holds 32.5 percent (direct and indirect) share in Bharti Airtel. Sources say that negotiations for the same are currently being worked out.

Meanwhile, SingTel told CNBC-TV18 that it is a long term strategic investor and keeps reviewing investment avenues in regional mobile companies.



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