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
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.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
