Singtel sells 1.2% stake in India's Bharti Airtel for $1.54 billion
Pastel, a unit of Singtel, sold 71 million shares in Airtel at 1,814 rupees apiece, reflecting a 2.85% discount to the closing price of Airtel's stock on Thursday. Singtel, which has been an investor in Airtel for over 20 years, said its stake would drop to 28.3%, valued at around S$48 billion, from 29.5% previously. Singtel has been selling shares in Airtel -- a 3.3% stake to Bharti Telecom in 2022 and 0.8% to GQG Partners in March 2024.