SingTel sells off entirety of Far EasTone holding

27 Apr 2012

Singapore Telecommunications (SingTel) has revealed that it had sold its 3.98% stake in Taiwanese telco Far EasTone (FET), Reuters reports. It is understood that the Singaporean operator divested the holding for TWD8.03 billion (USD273 million), with SingTel saying it expects to see a gain of around SGD118 million (USD95 million) from the sale.

As noted in TeleGeography’s GlobalComms Database, FET is majority owned by the Far Eastern Group, while NTT DoCoMo of Japan holds a 4.9% stake. In August 2007 Far Eastern Group agreed a share swap deal with SingTel which saw the latter take a 3.98% stake in FET in return for its 24.51% interest in wireline operator New Century Infocomm (Sparq).

Taiwan, Far EasTone (FET), Singtel Group