SingTel to raise its stake in Philippine’s Globe Telecom

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SingTel to raise its stake in Philippine’s Globe Telecom

TT Bureau | | 27 Jun 2008

Singapore Telecommunications Ltd. (SingTel) plans to hike its stake in Philipine based Globe Telecom Inc. from 44.47 percent to 47.34 percent.

The deal will be carried out through SingTel’s wholly-owned subsidiary, Singapore Telecom International Pte. Ltd which will buy 3.8 million common shares of Globe from Philippine conglomerate Ayala Corp at about P1 210.00 a share.

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27 Jun 2008(IST)

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