GIC acquires 60.6 million units in DIT for Rs 9.33 billion (India)
GIC has acquired 60.6 million units in India’s Data Infrastructure Trust (DIT) for Rs 9.33 billion through an open market transaction. GIC, through its wholly owned subsidiary Anahera Investments Pte Limited, purchased the units of DIT on the Bombay Stock Exchange. As per the bulk deal data, Anahera Investments acquired 60,600,000 units, amounting to 2.33 per cent of the total units in DIT. The units were purchased at an average price of Rs 153.95 each, taking the transaction value to Rs 9.33 billion. In January 2024, the Competition Commission of India (CCI) approved GIC’s proposed acquisition in DIT.
KKR offloads entire 4.85 per cent stake in Indus Towers; CPPIB sells 2.14 per cent holding
Kohlberg Kravis Roberts (KKR) has exited Indus Towers by offloading its entire 4.85 per cent stake in the company, while the Canada Pension Plan Investment Board (CPPIB) has sold off a 2.14 per cent holding. Meanwhile, Patronus Tradetech LLP offloaded 226,000 shares in the tower company. The shares were sold in a price range of Rs 210.21-Rs 215.28 apiece, taking the transaction size to about Rs 39.78 billion.
Jio Platforms pre-qualifies to bid for stake in Sri Lanka Telecom
The Sri Lankan government has pre-qualified Jio Platforms Limited to bid for a stake in Sri Lanka Telecom PLC (SLTMobitel). The other entity to have qualified is China-based Gortune International Investment Holding. Sri Lanka had invited applications from potential bidders for Sri Lanka Telecom by November 10, 2023, and Jio Platforms was one of three companies that expressed interest in buying a stake in the firm. On January 12, 2024, the Sri Lankan government issued a release wherein it named Jio Platforms as one of the potential bidders for the national telecom company.
Adani Power signs preliminary deal to offload entire stake in two subsidiaries to AdaniConneX for Rs 5.4 billion
Adani Power Limited has entered into an MoU to offload its entire stake in its two wholly owned subsidiaries, Aviceda Infra Park Limited (AIPL) and Innovant Buildwell Private Limited (IBPL), to AdaniConneX Private Limited for Rs 5.4 billion. According to a regulatory filing, AIPL and IBPL are being sold for a consideration of Rs 1.9 billion and Rs 3.5 billion respectively.
Blue Label Telecoms to acquire controlling stake in Cell C (South Africa)
Blue Label Telecoms, a 49.5 per cent shareholder in Cell C Limited, is moving to acquire a controlling stake in Cell C through its subsidiary, The Prepaid Company (TPC). As part of the acquisition process, TPC has filed an application with the Independent Communications Authority of South Africa for approval to transfer Cell C’s spectrum licences to TPC. It has also filed an application with the country’s Competition Commission. Blue Label will obtain a further 4.04 per cent stake in the business, which would take its equity over the 50 per cent ownership threshold.
Singtel secures first green loan worth SGD 535 million for data centres (Singapore)
Singapore Telecommunications Limited (Singtel), through its data centre subsidiaries DCW Pte Limited and DCKC Pte Limited, has secured an SGD 535 million five-year green loan. Singtel’s first green loan was provided by DBS Bank, OCBC Bank, Standard Chartered Bank and United Overseas Bank, which have also been appointed as green loan coordinators. Singtel will use the loan proceeds to refinance the borrowings and support the operations of its data centres DC West and DC Kim Chuan.
Telecom Egypt receives offers of up to $250 million for its tower assets (Egypt)
Telecom Egypt has received multiple non-binding purchase offers worth up to $250 million for its tower assets. Three companies – IHS Towers, Mobi Tower and Helios Towers – are currently competing to acquire the majority of the telco’s towers. Telecom Egypt intends to sell approximately 2,500 out of its 2,800 communication towers. The transaction is expected to be completed during the first quarter of 2024.
Boards of Yahsat and Bayanat recommend $4 billion merger (UAE)
The board of directors of Al Yah Satellite Communications Company P.J.S.C. (Yahsat) and Bayanat have unanimously voted to recommend a merger of the two entities to shareholders. The proposed merger will establish an artificial intelligence-powered space technology company in the Middle East and North Africa regions, with an implied market capitalisation of over AED 15 billion ($4 billion). This would make it one of the most valuable publicly listed space companies in the world by market capitalisation. As per the proposal, Bayanat and Yahsat will own about 54 per cent and 46 per cent of the combined entity respectively.
PIH acquires 100 per cent stake in MTS (Qatar)
Power International Holding (PIH) has signed an agreement of principles to acquire 100 per cent stake in Kazakhstan-based Mobile Telecom Services (MTS) from incumbent state telco Kazakhtelecom JSC. Under the agreement, which was signed in Qatar by PIH, Kazakhtelecom and its stakeholder Samruk-Kazyna (Kazakhstan’s sovereign wealth fund), PIH has agreed to purchase the entire stake in MTS. The terms of the sale, including the transaction amount, are yet to be determined. The acquisition will broaden the company’s offerings by applying data analytics to customer behaviour, network infrastructure performance, digital payments and market trends to introduce new digital products and services.
