Singtel tapping high-performing markets – CEO

Singapore Telecommunications’ (Singtel) recent move to enhance its deemed stakes in the top mobile operators of Thailand and India, Advanced Info Services (AIS) and Bharti Airtel respectively, by buying shares from Temasek Holdings gives the telco increased access to two high-performing markets.

The two companies have a combined mobile customer base of more than 380 million across Asia and Africa. Thailand and India are attractive markets which are reaping the benefits of rapidly increasing smartphone penetration and mobile data adoption by a growing middle class.

Commenting on the deal, Chua Sock Koong, Singtel’s CEO, says: “Our stated policy has always been to increase stakes in our associates when presented with the right opportunities.” She adds that Singtel has “worked closely” with the two operators for “more than 15 years”.