According to the reporters, on Thursday, Singapore Telecom had said that it would spend $1.8 billion in order to take a stake in Thailand`s Intouch and raise its share of India`s Bharti, boosting its access to fast growing Asian and African mobile markets.
Sing Tel is said to be the South east Asia`s biggest telecom group by revenue. It would acquire 21 percent of Intouch and an additional 7.39 percent in Bharti Telecom from state-linked investment company Temasek.
As said by Sing Tel chief executive Chua Sock Koong in a statement, “This is a unique opportunity for us to deepen our relationships with two great market leaders.
Intouch is said to be the largest shareholder in Thailand`s top mobile operator Advanced Info Services.
Bharti Telecom Limited is the India`s largest telecommunications company and is the holding company of Bharti Airtel.
The two operators have a combined mobile customer base of not less than 380 million people across Asia and Africa, said Sing Tel.
Stakes in mobile operators are also been hold by Sing Tel in the Philippines and Indonesia, and has a wholly owned subsidiary in Australia called Optus.