Singtel shares up 3.7% as investors anticipate telco’s potential acquisition of STT GDC
The deal will be one of Asia’s largest data centre transactions if it goes through
[SINGAPORE] Singtel shares jumped in early trade on Tuesday (Feb 3) after news that ST Telemedia Global Data Centres (STT GDC) is reportedly close to being bought by a consortium comprising the telco and private equity firm KKR.
As at 9.14 am shortly after market open, the stock rose to S$4.81, up 3.7 per cent or S$0.17 from its latest closing price of S$4.64, with 8.2 million shares transacted.
The Wall Street Journal on Saturday reported that a KKR-led consortium is nearing a deal to buy ST Telemedia Global Data Centres.
The deal, which values STT GDC at about US$10.2 billion, would be one of Asia’s largest data centre transactions if it goes through – and could potentially transform Singtel into a data centre powerhouse, analysts said.
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