SingTel will participate in Globe Telecom Inc.’s offer to buy back up to 6.67 per cent of its outstanding common shares at 950 pesos per share.

SingTel will participate in Globe Telecom Inc.’s offer to buy back up S to 6.67 per cent of its outstanding common shares at 950 pesos per share. Currently, SingTel is the major shareholder and owns 45 per cent of Globe Telecom. Philippine conglomerate Ayala Corporation, which holds 35 per cent of Globe, has also expressed its intention to participate in the tender offer. Globe, the country’s second largest carrier, is offering to buy one share for every 15 held by its shareholders on record as of February 10.