The investment would give Singtel a bigger foothold in India and Thailand by investing in the parent companies of the largest mobile phone operators in both markets. Photo: AFPSingapore: Singapore Telecommunications Ltd, the city-state’s biggest phone company, plans to spend about $2 billion to invest in Thailand’s Intouch Holdings Pcl and raise its stake in India’s Bharti Telecom Ltd, according to people with knowledge of the matter. Following media reports that it’s planning to buy part of Temasek’s stake in Intouch, Singtel said Wednesday that it regularly explores and reviews business opportunities. Singtel and Temasek officials declined to comment on ”market speculation.” Officials at Intouch and Bharti declined to comment. Singtel shares have risen 15% this year, compared with the 1.4% drop in the Singapore benchmark Straits Times Index.

Source: Mint August 17, 2016 17:48 UTC