SingTel announces plan to sell submarine link to Bharti

Singapore Telecommunications (SingTel) today announced it has agreed to sell off its 49.99% stake in Network i2i, a submarine cable system linking Singapore and India, to Bharti Airtel for USD55 million. Reuters reports that demand for telecoms bandwidth is soaring in India, the region’s third largest economy, where sectors such as banking and export-oriented software services are growing at a rapid pace.