The Foreign Investment Promotion Board (FIPB) has approved SingTel?s request to raise its stake in SingTel Global (India) Limited from 74 per cent to 100 per cent. With this, SingTel will be the first international company to wholly own an Indian telecom services firm.
Singapore-based SingTel is now entitled to buyout its local partners, including Bharti Enterprise and Leela Lace Software Solutions Limited, in SingTel Global (India) Limited.
That apart, SingTel is reportedly looking to consolidate its presence in the Indian telecom space. It has earmarked investments worth Rs 29.8 million in India.
