Friday, April 27, 2012

SingTel divests stake in Taiwanese telco

SINGAPORE: SingTel announced on Friday that it had divested its entire 3.98 per cent equity interest in Taiwan's Far EasTone Telecommunications Co.

In a statement, SingTel said a total of 129,571,696 shares were sold at an average price of NT$62.00 per share, for a cash consideration of about NT$8.03 billion (S$339 million).

The transaction was by way of an on-market sale.

SingTel said it would recognise a gain of about S$118 million in the first quarter ending June 30, 2012.

- CNA/wm

View the original article here

Source From Channel News Asia

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