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3mo ago

Singtel Confirms Consortium Talks on STT GDC as Shares Jump

Any potential transaction would reshape ownership of a fast-growing data-centre operator tied to AI infrastructure demand.

Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid/File Photo
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Overview

  • In an SGX filing, Singtel said it is in ongoing consortium discussions regarding ST Telemedia Global Data Centres and warned there is no assurance of a definitive agreement.
  • Media reports describe KKR as a partner in advanced talks for roughly 80% of STT GDC, and the firm declined to comment to The Straits Times.
  • Singtel shares rose about 4.7% in heavy turnover on Friday morning after gains the previous day, making the stock the most actively traded by value.
  • KKR holds about 14% of STT GDC and Singtel more than 4% following a $1.75 billion co-investment in June 2024, with the remainder owned by ST Telemedia, a Temasek unit.
  • Separately, Singtel’s Pastel unit sold roughly S$1.5 billion of Bharti Airtel shares via private placement, a move the company says increases financial flexibility for digital infrastructure growth.