Singtel ( (SG:Z74) ) has provided an update.
Singtel has announced the completion of a strategic partnership with Lendlease for the redevelopment of its Comcentre property. Lendlease has acquired a 49% stake in Singtel Somerset Pte. Ltd., the entity holding the Comcentre property, for S$1.6 billion. This transaction results in a gain of approximately S$1.2 billion for Singtel, after accounting for transaction costs. The redevelopment will be financed through external debt and equity commitments from both Singtel and Lendlease, potentially enhancing Singtel’s operational capabilities and market positioning.
More about Singtel
Singapore Telecommunications Limited (Singtel) is a major telecommunications company based in Singapore. It provides a wide range of communication services, including mobile, broadband, and digital solutions, focusing on both consumer and enterprise markets.
YTD Price Performance: 3.90%
Average Trading Volume: 10,065
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $42.41B
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