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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.

Cellnex sells French data center arm Towerlink France for €391 million

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Cellnex (CLNX.MC), Europe’s largest mobile tower operator, announced on Friday that it has agreed to sell its French data center unit, Towerlink France, to Vauban Infra Fibre for €391 million ($458 million).

The Spanish company said the deal, made through its French subsidiary, will be fully settled in cash upon completion. The transaction covers 99.99% of Towerlink France’s share capital.

The sale marks another key step in Cellnex’s strategic shift from aggressive acquisitions toward strengthening its balance sheet and focusing on its core telecom infrastructure business.

In September, Reuters reported that Cellnex had been in talks with advisers to divest its French data center operations as part of broader restructuring efforts. Towerlink France operates the company’s main data center activities in the country.

The move follows a string of recent asset sales aimed at reducing debt and improving liquidity. Earlier this year, Cellnex sold its Austrian operations for €803 million and its Irish business for €971 million, freeing up significant capital.

Analysts say the divestments reflect a pragmatic approach by the company to consolidate around its core telecommunications tower business, which remains highly profitable amid Europe’s accelerating 5G rollout.

Ericsson’s shares surge 13% after profit beat and minimal tariff concerns

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Swedish telecoms giant Ericsson saw its shares soar more than 13% on Tuesday, marking its strongest single-day rise since 2018, after the company reported better-than-expected quarterly earnings and dismissed concerns over U.S. tariffs.

Adjusted EBIT (earnings before interest and taxes) — excluding restructuring costs — reached 15.4 billion Swedish crowns ($1.62 billion) for the quarter ending September, exceeding analysts’ forecasts of 14.1 billion crowns, according to an Infront poll.

The company attributed its strong performance to ongoing cost savings and its leading market share in North America, where it has outpaced rival Nokia in the race to deploy 5G infrastructure. Ericsson’s finance chief Lars Sandström told Reuters that while no firm is entirely immune to tariffs, the company currently sees “no additional impact going forward.”

Although total net sales fell 9% year-on-year to 56.2 billion crowns, they still surpassed expectations of 55.7 billion. Sales in the Americas declined 8% compared to 2024’s strong performance, which benefited from major customer investments and network deliveries.

Ericsson also announced a new five-year partnership with Vodafone to modernize programmable networks and confirmed the completion of its Iconectiv sale, generating a one-off profit of 7.6 billion crowns — potentially paving the way for higher dividends or a share buyback program.