Singtel could increase stake in Bharti Airtel

Singtel could increase stake in Bharti Airtel

If the Hutchison’s stake in hutch was not enough, now Singtel has said that they could increase their stake in Bharti Airtel.

The company said that they are committed to the Indian market and they would consider raising its stake in Bharti Airtel which is the largest private telecom player in India.

A Singtel representative said: “We remain committed to our investment in Bharti Airtel and believe in the long-term potential of the Indian market.” They already hold around 31 per cent stake in Bharti Airtel.

The spokesperson further talked about the possibility of acquiring Vodafone stake in Airtel if they end up buying the Hutchison’s stake in Hutch: “If the shares are offered to us, we will consider under the right terms and conditions. We do review opportunities to increase our shareholdings in our existing associates.”

Bharti itself has declined to comment on this new development.