Singtel Raises $1.15 Billion From Airtel Stake Sale

By Kimberley Kao

Singapore Telecommunications has raised US$1.15 billion from selling a portion of its stake in Indian peer Bharti Airtel, continuing efforts to optimize its portfolio.

Singtel said Friday that the divestment of 1.5 billion Singapore dollars, equivalent to US$1.15 billion, represents about a 0.8% stake in Bharti Airtel. It will result in an estimated S$1.1 billion gain.

The sale was executed via a private placement to institutional investors, and reflected strong demand, Singtel said.

Shares of the Singapore-listed company were 3.1% higher in afternoon trading.

After the sale, Singtel will hold a 27.5% stake in Bharti Airtel, valued at about S$51 billion.

"With this transaction, our active capital management program has generated S$5.6 billion, more than half of our new mid-term asset recycling target of S$9 billion," said Group Chief Financial Officer Arthur Lang. "This gives us the financial flexibility to strengthen our balance sheet, fund growth opportunities in digital infrastructure and digital services while ensuring that we can continue to grow dividends on a sustainable basis."

The funds that Singtel has been raising through this strategy will be used to fund growth, as well as for capital returns through its value realization dividend and share buyback, the telecom company said.

In 2022 and 2024, Singtel raised a total of about S$3.5 billion from the progressive sale of Airtel shares.

Singtel has been a strategic investor in New Delhi-based Airtel for more than 20 years.

Write to Kimberley Kao at kimberley.kao@wsj.com

(END) Dow Jones Newswires

November 07, 2025 01:01 ET (06:01 GMT)