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Singtel: Scaling Back On Airtel

Summary Singapore Telecom will dilute its effective stake in Bharti Airtel after not subscribing to its full allocation in the associates pending rights issue. A highly competitive market for Bharti Airtel and recent losses may have prompted management to reduce the potential impact of further losses. … while still maintaining exposure when fortunes there are expected to improve. Dividend guidance is maintained despite the funds needed to fund the share purchases – this is important in the Singapore telecoms sector. Call for shares has been diverted elsewhere Singtel ( OTCPK:SGAPY )/ ("STEL") is the second-largest — measured by market […]

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