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SingTel (ASX:SGT) spends $10m on more Airtel shares

SingTel (ASX:SGT) spends $10m on more Airtel shares

Optus parent SingTel (ASX:SGT) has acquired 422.8 million rupees ($10.4 million) worth of shares in Indian telecom giant Bharti Airtel.

The 1.6 million shares were acquired on-market through SingTel's wholly-owned subsidiary, Viridian Limited.

The deal increases SingTel's effective interest in Airtel to 32.04%, from 32%.

SingTel said the net asset value per share is around 108.94 rupees. The shares were last trading at 280.94 rupees each when they were acquired.

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Tags investmentTelecommunicationssingtelBharti Airtel

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