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Singtel’s acquisitions won’t yield much value soon: BNP

PC Lee
PC Lee8/19/2016 03:22 PM GMT+08  • 1 min read
Singtel’s acquisitions won’t yield much value soon: BNP
SINGAPORE (Aug 19): The near-term “value accretion” to Singapore Telecommunications from the $2.47 billion deal to buy stakes in the two largest telecom companies in Thailand and India from Temasek is marginal, says BNP Paribas.
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SINGAPORE (Aug 19): The near-term “value accretion” to Singapore Telecommunications from the $2.47 billion deal to buy stakes in the two largest telecom companies in Thailand and India from Temasek is marginal, says BNP Paribas.

The acquisition cost is at about 10% discount to the value of the implied stakes in the telecom operators Advanced Info Services and Bharti Airtel, which BNP Paribas says is reasonable.

“But while we share Singtel’s positive views on AIS and Airtel, we note the near-term value accretion to Singtel is marginal.”

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