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.
Like this story, share it with millions of investors on M3
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.
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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