Question- According to the recent announcement, how much will Singapore Telecom Limited (Singtel) invest in Bharti Telecom Limited?
(a) 2200 crores
(b) 23,459 crores
(c) 2,649 crores
(d) 30,485 crores
Answer: (c)
Related Facts:
- On February 5th, 2018; Bharti Airtel, the country’s largest telecom operator company, announced that Singapore Telecom Limited (SingTel) will invest Rs 2,649 crore in Bharti Telecom Limited (Bharti Telecom).
- Singtel is Asia’s leading communications and ICT solutions group, which is a long-term partner of Airtel.
- This transaction is subject to the approval of shareholders of Bharti Telecom.
- The use of the money received will be done by the company to reduce the debt.
- With this investment, the total share of Singtel in Bharti Telecom (with its affiliates) will increase to 48.90 per cent.
- Bharti Enterprises will continue to contribute more than 50 percent in Bharti Telecom.