IndiaInfoline, 26 May 2009
Singapore Telecommunications Ltd. may have its stake in Bharti Airtel Ltd. reduced to 19.4% from about 30.5%, according to Citigroup's research report. Bharti yesterday said it had resumed talks to buy 49% of South Africa’s MTN Group Ltd., the first step in a potential US$23bn merger.
SingTel’s holding in Bharti, its biggest overseas contributor to profit, will probably shrink to 19.4% if Bharti completes plans to combine with MTN Group Ltd., Citigroup’s report stated. SingTel currently owns 30.4%.
Read More
