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Bond Market News
SingTel Plans to Sell Its Stake in Bharti
February 18, 2025
Singapore Telecommunications Limited (SingTel) is planning to sell its stake in Bharti Airtel through a block deal worth an estimated INR 85bn ($980mn), according to sources. SingTel holds about 30% in Bharti Airtel and is expected to discuss the stake sale at an upcoming board meeting as part of its capital management strategy. An official response from SingTel is awaited. SingTel previously sold a 0.8% stake in Bharti to GQG Partners in March 2024. As of September 2024, SingTel’s net debt was $7.8bn. The company is also working on a $6bn asset recycling strategy.
SingTel’s bonds traded stable with its 2.375% 2029s at 90.6 cents on the dollar, yielding 4.7%.
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