April 27, 2012 / 12:15 AM / 7 years ago

SingTel says sells stake in Far EasTone for $273 mln

SINGAPORE, April 27 (Reuters) - Singapore Telecommunications Ltd (SingTel) confirmed on Friday it has divested its 3.98 percent stake in Taiwan’s Far EasTone Telecommunications Co Ltd for T$8.03 billion ($273.31 million).

SingTel, Southeast Asia’s biggest telecoms firm, said it will see a gain of about S$118 million ($95 million) from the on-market sale. The gain will be reflected in the first quarter ending June 30.

On Thursday IFR reported SingTel was selling its stake in Far EasTone and Goldman Sachs was the sole bookrunner for the deal.

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