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SingTel Sells its entire stake in Far EasTone

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Singapore Telecommunications (SingTel) has sold its 3.98% stake in Taiwan's Far EasTone Telecommunications

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 (US$273 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.

The company gave no explanation for why it sold the stake.

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Tags: singtel  far eastone  Taiwan  Singapore