SINGTEL SHARE IN BHARTI-AIRTEL MAY FALL 19 PERCENT

By May 28th, 2009 AT 12:17 AM

bharti-singtelWith talks for the BHARTI-MTN merger underway since 25 May, SingTel could see its stake fall to a significant extent after the merger. Singapore Telecommunications (SingTel), is one of the major stakeholders in Bharti Airtel as per a Citigroup report, “SingTel, which operates in Singapore and Australia, has no direct involvement in the deal but its current 30.5 per cent stake in Bharti (will) get diluted to 19.4 per cent,” As per the same report, SingTel will become a smaller shareholder in a larger entity.

A spokesperson of SingTel was quoted by agencies as saying that it would continue to be actively involved in due diligence and key aspects of the transaction.Bharti has consulted us and discussions are ongoing, the spokesperson confirmed to agencies. A Bharti spokesperson, however, refused to comment on the report.

The Citigroup analysts questioned whether SingTel had a say in the whole transaction – “Does Bharti need SingTel more or is it now the other way around?” asked the report. It said that the company’s press release highlights Bharti as the primary vehicle for the BhartiMTN combine to pursue further expansion in India (Asia) and MTN as the primary vehicle for Africa and Middle East expansion.

 

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I DONT THINK THIS DEAL HAS IMPACT ON MOBILE USERS!! IT’S INSIDER FOR AIRTEL !!

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