SingTel – BT

SingTel says it’s in talks with China telco

SINGAPORE Telecommunications said talks are in progress for it to invest in a Chinese operator, part of plans to drive earnings through emerging markets.

‘We track the developments closely,’ chief executive Chua Sock Koong said in an interview at a conference in Singapore yesterday. She declined to elaborate because it was ‘too premature’ to identify target companies.

Ms Chua, who took the helm in April last year, has said she aims to expand growth by investing in emerging markets including Africa.

The SingTel CEO, who reiterated yesterday interest in investing in the Middle East, faces the challenge of raising earnings amid currency fluctuations and intensifying competition in Australia, its largest market.

The company is in discussions for a possible investment in operators in China, the world’s biggest telephone market by users, Ms Chua said on June 17.

China Telecom Corp, the nation’s largest fixed-line company, said in June it was in talks to sell a stake to a strategic investor.

Ms Chua said on April 15 that SingTel was looking at investments in the Middle East as the company favours emerging markets with large populations and low mobile-phone usage.

‘We continue to look to see if there are significant opportunities,’ she said. — Bloomberg

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