Share sales in Asia ex-Japan are set to rebound in 2017 from three-year lows this year, driven by listings of financial firms in Greater China, including the world's biggest fintech IPO, and a further revival of offerings in India, bankers and investors said.
Singtel said in a statement that it plans to acquire a 21 percent stake in Intouch for 1.58 billion Singapore dollars (USD 1.18 billion) and an additional 7.39 percent stake in Bharti Telecom for 884 million Singapore dollars, through wholly-owned subsidiaries.
Bharti Airtel shares rose by nearly 3 percent after the company joined hands with Singapore Telecommunications to deliver high-speed data network coverage across 325 cities in the Asia-Pacific, the Middle-East, Africa, Europe and the US under one network
"This association will strongly enhance our value proposition for enterprise customers by offering them a wider global reach and the largest reach within India under a single platform," Bharti Airtel Director, Strategic Ventures Manish Prakash said in a statement.
One source said Southeast Asia's largest telco is expected to appoint banks by the end of this year and the initial public offering of NetLink Trust could be launched in the second half of 2017.
SingPost is seeking to boost its e-commerce business to offset weak postal revenues, and last year an Alibaba unit bought an over 10 percent stake in SingPost for USD 249 million.
Overnight, US stocks gave up gains in the minutes before the close as investors eyed continued gains in oil and the US dollar ahead of the unofficial start of earnings season on Wednesday.
Myanmar has announced the names of 12 international consortia that have pre-qualified to bid for two mobile licences, moving closer to opening one of the last major untapped mobile markets.
Singapore Telecommunications Ltd said on Thursday it has seen the beginning of some stability in the Indian telecom market partly as its associate Bharti Airtel Ltd has begun to remove discounts on its services
The weekend will see the mobile gaming sensation, Angry Birds entertain live audiences in Singapore.
Singapore Telecommunications (SingTel), Southeast Asia's biggest telecoms firm, posted a 2.3% fall in quarterly profit due to a steep fall in contribution from its Indian unit Bharti Airtel and currency losses.
Mobile phone operator Bharti Airtel will look for opportunities within India as the sector consolidates, Singapore Telecommunications CEO Chua Sock Koong said on Thursday.