SingTel pays US$400 million to move into Indian market

SingTel will buy 20 per cent of Bharti Telecom Ltd. (BTL) and 15 per cent of Bharti Televentures Ltd. (BTVL), SingTel said in a statement Tuesday. Bharti is India’s largest private telecommunications services group, with fixed-line, cellular, satellite and Internet businesses, and over 500,000 subscribers in total, SingTel said.

The purchase by SingTel of stakes in BTL and BTVL is consistent with SingTel’s strategy to focus its investment efforts in the Asia-Pacific region, SingTel said in the statement.

India’s market offers great potential for growth, according to SingTel. The country’s population recently passed one billion, and the country has low cellular and fixed line telephone penetration, at 0.2 per cent and 2.5 per cent. The increasingly close ties between the two companies is expected to lead to better telecommunications links between Singapore and India, especially for businesses. The two companies recently announced a plan to build a 3,500-kilometre submarine cable linking the city-state with the southern Indian city of Chennai.

Singapore and India are natural business partners, officials from both governments have acknowledged.

Singapore has a highly developed IT and telecommunications infrastructure, but a severe shortage of IT manpower; India the opposite

. SingTel, in Singapore, can be reached at Bharti, in New Delhi, can be reached at

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

Featured Articles

Cybersecurity in 2024: Priorities and challenges for Canadian organizations 

By Derek Manky As predictions for 2024 point to the continued expansion...

Survey shows generative AI is a top priority for Canadian corporate leaders.

Leaders are devoting significant budget to generative AI for 2024 Canadian corporate...

Related Tech News

Tech Jobs

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

Tech Companies Hiring Right Now