Singtel

Singapore's SingTel says it may offer financial assistance to India's Bharti Airtel in its attempt to buy Zain's African mobile networks

Bharti Airtel – India’s largest mobile operator – has denied media reports that it has asked SingTel to part fund its planned US$10.7 billion acquisition of Zain Africa, reports Dow Jones Newswires.

Southeast Asian mobile giant SingTel today announced a 24 percent annual increase in net profit on the back of steady growth at its wholly-owned subsidiaries in Singapore (SingTel) and Australia (Optus). The highlight among the group’s regional mobile subsidiaries (where SingTel owns minority stakes) was Telkomsel in Indonesia.

SingTel is considering floating a 25 percent stake in its Australian unit, Optus, via an IPO that could raise as much as AUD4 billion (US$3.7 billion), according to a Telegeography report that cites Dow Jones Newswires.

Allen Lew, CEO (Singapore) of SingTel, said in his keynote presentation at the Mobile Asia Congress this morning that his company's AMPed mobile music service is outselling Nokia's Comes With Music service in Singapore by around 4 times.

Asia’s largest multi-market mobile operator SingTel plans to conduct a regional trial of LTE technology in Australia, Indonesia, the Philippines and Singapore in partnership with its subsidiaries Optus, Globe Telecom and Telkomsel.

Singapore-based SingTel has hinted at further acquisitions in fast-growing markets such as Africa after reporting a cautious outlook at its wholly-owned subsidiaries in Singapore (SingTel) and Australia (Optus).