SingTel has reportedly increased its equity holding in Philippines based telecom company Globe Telecom from 44.47 per cent to 47.34 per cent at a cost of PHP4.6 billion ($104 million).

SingTel has reportedly increased its equity holding in Philippinesbased telecom company Globe Telecom from 44.47 per cent to 47.34 per cent at a cost of PHP4.6 billion ($104 million). SingTel’s 100 per cent-owned unit, Singapore Telecom International, has agreed to acquire 3.8 million common shares of Globe from Ayala Corporation at approximately PHP1,210 per share.