SingTel has first right to Temasek's Bharti shares

Singapore, July 4: Singapore Telecommunications Co. said on Wednesday the company had the first right to buy shares from Temasek Holdings of Bharti Airtel India's top mobile services firm.

The Bharti group said late on Tuesday that it had offered 4.99 per cent equity in Bharti Airtel to Temasek.

The Indian group's Bharti Enterprises will hold a controlling 45 per cent stake in Bharti Airtel.

SingTel now has a 30.8 per cent stake in Bharti Airtel, which competes with 11 other players in India's fragmented mobile market.

Reuters>