Singtel to acquire shares in Intouch and Bharti Telecom from Temasek for $2.5 bil in total

SINGAPORE (Aug 18): Singtel has entered into conditional share purchase agreements with Temasek to acquire 21% of Intouch Holdings pcl and 7.39% of Bharti Telecom for a total consideration of $2.47 billion.

Singtel will pay Temasek THB60.83 ($2.36) for each share of Intouch and INR235.62 ($4.72) for each share of Bharti Telecom.

The acquisitions will be settled fully in cash. This transaction will be funded through internal cash, short-term debt and proceeds from a share placement of 386 million new Singtel shares to Temasek totalling $1.605 billion at a price of $4.16 per new share.

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