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Optus parent SingTel ups stake in AIS

Optus parent SingTel ups stake in AIS

Optus parent SingTel Limited (ASX:SGT) plans to pay up to S$328 million ($249.5 million) to increase its holding in Thai telecom operator AIS.

SingTel on Monday announced that subsidiary SingTel Strategic Investments has arranged to buy an extra 2.05% in AIS.

The deal, which remains subject to regulatory and shareholder approvals, would take the group's total holding to 23.32%.

The purchase will be made at market values, but with a stipulated minimum price of S$300 million and a maximum of S$328 million.

To complement its telecom operations in Singapore and its 100% stake in Optus, SingTel has investments in a group of Asian operators it calls its regional mobile affiliates.

As well as AIS, these affiliates are Bharti Airtel – India's largest mobile operator - the Philippines' Globe Telecom, Bangladesh's BPTL, Indonesia's Telkomsel and Pakistan's Warid Telecom.

SGT shares fell 0.82% on Monday to $2.420.

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Tags Asia ASX:SGT Optus SingTel telecommunications

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