Singtel Sells $1.16 Billion Stake in Bharti Airtel to Fund Digital Investments

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Singapore Telecommunications (Singtel) has sold a 0.8% stake worth about $1.16 billion in India’s Bharti Airtel, as part of its ongoing plan to recycle assets and boost investments in digital infrastructure, the company announced on Friday.

Singtel’s investment arm Pastel sold 51 million shares of Bharti Airtel, India’s second-largest telecom operator, at 2,030 rupees ($23.10) per share — about 3.1% below the stock’s previous close. The transaction was executed through a private placement to institutional investors.

The sale is part of Singtel’s S$9 billion (US$6.6 billion) mid-term asset recycling program, which aims to raise funds for expansion in digital services, data centers, and next-generation connectivity.

Following the divestment, Singtel now holds a 27.5% stake in Bharti Airtel, down from 31.4% in 2022, continuing a gradual reduction of its holdings since first investing in the Indian company in 2000.

Singtel said the sale will generate an estimated S$1.1 billion ($805 million) in gains, benefiting from Bharti Airtel’s surging valuation — its shares have quadrupled since 2019, driven by stronger earnings and rising average revenue per user.

Investors reacted positively to the move, sending Singtel’s shares up about 3% to S$4.65 by midday trading in Singapore. Bharti Airtel shares, however, fell around 4.5% in Mumbai, with more than 55 million shares changing hands via block deals, according to LSEG data.

The deal underscores Singtel’s strategy to strengthen its balance sheet while maintaining a long-term presence in one of the world’s fastest-growing telecom markets.

EU Considers Pausing Parts of Landmark AI Act Amid Pressure from U.S. and Big Tech

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The European Commission is considering pausing parts of its landmark Artificial Intelligence Act, following growing pressure from U.S. officials and major tech companies such as Meta and Alphabet, the Financial Times reported on Friday.

According to the report, the move comes after months of lobbying from Silicon Valley giants and warnings from the Trump administration that strict EU regulations could strain transatlantic trade relations.

A senior EU official told the FT that Brussels has been “engaging” with Washington on potential adjustments to the AI Act and related digital regulations as part of a broader simplification effort, which is expected to be adopted on November 19.

The AI Act, which became law in August 2024, is the world’s first comprehensive framework to regulate artificial intelligence technologies. It categorizes AI systems by risk level — from minimal to unacceptable — and imposes restrictions on areas like facial recognition, biometric surveillance, and generative AI transparency.

While a European Commission spokesperson had previously dismissed calls for delays, officials are now reportedly weighing temporary pauses for specific provisions, particularly those affecting companies developing large AI models.

An EU spokesperson told the FT that “various options” are being discussed but emphasized that the bloc remains “fully behind the AI Act and its objectives.”

The proposal reflects Europe’s balancing act between maintaining AI safety and innovation leadership while addressing geopolitical and trade pressures from the United States and industry stakeholders.

Vodafone and AST SpaceMobile to Build Europe-Led Satellite Constellation for Secure Connectivity

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Vodafone and AST SpaceMobile announced plans on Friday to develop a Europe-led satellite constellation designed to provide direct satellite-to-smartphone connectivity for both commercial and government applications.

The joint venture will establish its European operational headquarters in Germany, with potential sites near Munich or Hannover under consideration. The new system will serve as a “sovereign satellite solution”, providing secure communications to European mobile network operators, public agencies, and emergency services.

According to the companies, the constellation will feature a “command switch” to ensure European oversight, with built-in encryption and control systems for secure communication and satellite management.

The initiative aims to enhance broadband access and improve disaster relief capabilities across the continent, particularly in underserved regions. Industry analysts estimate the satellite-to-phone connectivity market could surpass $10 billion by 2033, reflecting growing demand for broadband in remote areas.

The announcement follows Elon Musk’s Starlink striking a deal with Veon on Thursday to deliver direct-to-cell connectivity to up to 150 million users across its markets. SpaceX also expanded its U.S. spectrum holdings, signaling intensified competition in the satellite communications sector.

AST SpaceMobile, which currently operates six satellites and plans to expand to 60 by 2026, is positioning itself as Europe’s alternative to U.S.-based Starlink. Vodafone, a major investor in AST, said that operators in 21 EU member states have expressed interest in joining the project, which is slated for commercial launch in 2026.

Vodafone CEO Margherita Della Valle said the initiative will provide Europe with secure, sovereign satellite communications that complement terrestrial networks, strengthening the continent’s digital autonomy.