Why singtel Is Trending Today?

Bharti Airtel's shares experienced a significant drop, declining by 4.04% to reach Rs. 2,010.30. This downturn comes in the wake of Singtel's decision to sell a portion of its stake in the company.

Singtel, a leading telecommunications company, has been in the news recently due to several significant developments. The company has been involved in a series of transactions, including the offloading of a $1.2 billion stake, which has led to a decline in the stock market, with Airtel's shares dropping by 4.5%. Singtel's shares, however, have been performing well, touching their highest level since 1993 following reports of a data center deal. The company has been in talks with KKR, a global investment firm, to potentially acquire ST Telemedia Global Data Centres in a deal valued at over $5 billion. Singtel has also been in discussions with a Singapore data center firm, which has resulted in a significant increase in Singtel's share price. In another development, Singtel has agreed to sell a 0.8% stake in Bharti Airtel for approximately $10.5 billion. These transactions highlight Singtel's strategic moves in the data center and telecommunications sectors.