Singtel Cuts Stake in Bharti Airtel Through $710 Million Sale

Singapore Telecommunications Ltd. trimmed its stake in Indian phone carrier Bharti Airtel Ltd. by selling about S$950 million ($710 million) in stock, gaining funds to invest in areas such as data centers.

The sale, to US investment firm GQG Partners, decreases Singtel’s stake to 29% from 29.8%, it said in a statement Thursday. Singtel will book a gain of about S$700 million, and its remaining holding in Bharti Airtel is valued at an estimated S$33 billion, it said.

Southeast Asia’s biggest telecom operator has been streamlining its portfolio as it focuses on 5G operations and seeks new growth engines ...