SingTel, Southeast Asia''s largest phone firm, has agreed to swap its stake in Taiwanese fixed-line operator New Century InfoComm Tech for new shares in mobile phone firm Far EasTone Telecommunications, a Reuters report said.
The Reuters report quoted SingTel as saying that it would exchange its entire 24.51% shareholding in New Century for about 160 million new shares of Far EasTone.
The new shares would represent a stake of about 3.9% in Far EasTone and the transaction is expected to be completed by December 2007, SingTel said.
Source: telecomasia
