Singapore Telecommunications (ASX:SGT) will sell its 49.99 per cent interest in Network i2i for a total consideration of $US66.7 million, comprising cash consideration of $US55m and assumption of a $US11.7m debt due from
SingTel to Network i2i, to Bharti Airtel.
The gain on disposal will amount to approximately $S104m, of which approximately $S72m will be recognised in the second quarter ending 30 September 2007.
SingTel shares were last traded at $2.89.
Source: tradingmarkets
