Singtel divests its entire stake in Far EasTone
Singapore, 27 April 2012 - Singapore Telecommunications Limited (Singtel) today announced that it has divested its entire 3.98 per cent equity interest in Taiwan’s Far EasTone Telecommunications Co., Ltd.
A total of 129,571,696 shares were sold at an average price of NT$62.00 per share, for a cash consideration of approximately NT$8.03 billion or S$339 million. The transaction was by way of an on-market sale. Singtel will recognise a gain of approximately S$118 million in the first quarter ending 30 June 2012.