SingTel Sells its Entire Stake in Far EasTone
Published on: 27th Apr 2012
Note -- this news article is more than a year old.
By: Ian Mansfield
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.