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Moneycontrol.com >> Messageboard >> Stocks >> Bharti Telecom >> SINGTEL TO BUY BHARTI TELECOM SHARES @ RS.24757.00 TO 41210.00 PER SHARE
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SINGTEL TO BUY BHARTI TELECOM SHARES @ RS.24757.00 TO 41210.00 PER SHARE (13)   03-Nov-09 18:55Track this thread   Tracked by (1)  
Posted by:   andro on ( 03-Nov-09 18:55 )
Singapore Telecommunications (SingTel) has bought an additional 1.52 per cent stake in India’s largest private telecom Bharti Airtel and will pay up to Rs 3008.4 crore in three installments ranging over 18 months.

In a notice to Singapore Stock Exchange, SingTel said it has entered into a conditional share purchase agreement with Bharti Group entity to buy an additional 7,30,000 issued shares in Bharti Telecom, a promoter company of Bharti Airtel.

“The acquisition is in line with SingTel’s strategic focus on maximising the value of its existing businesses,” the company said.

SingTel’s wholly-owned subsidiary Pastel will pay between Rs 1807.3 crore to Rs 3,008.4 crore, depending upon prevailing market prices for Airtel shares.

Going by the said transaction value, Bharti Airtel has been valued in the range between Rs 1.18 lakh crore and Rs 1.97 lakh crore.
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