SingTel: We will documentation Bharti Airtel’s play for Zain’s African assets
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Singapore’s SingTel, which owns just under a third base of Bharti Airtel, said it will documentation the Indian operator in its deed to acquire Zain’s African networks, excluding Morocco and Sudan.
A senior SingTel executive told Reuters that the acquisition would be financed by debt (i.e. bond issuance), and there was no need to inject money directly into Bharti Airtel. The troupe’s CEO International, Lim Chuan Poh, said: “There’s no compulsive determination that we motivation to go and spend money to maintain our post to avoid being diluted.”
The trouble, however, is why would SingTel wish to do that? If they are ready to support the estimate, wherefore father’t go and grab Zain Africa directly?
In that mother wit, Deutsche Bank’s psychoanalyst William Bratton said: “This is one of the few African portfolios potentially available, and it is not open how SingTel’s shareholders benefit from indirect exposure to Africa. We are increasingly puzzled by SingTel’s international scheme.”
Finally, in case you curiosity (and you probably father’t), SingTel is bulk owned by the Singapore governing’s investiture arm – Temasek Holdings.
[Via: CellularNews]
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