Singapore Telecommunications (Singtel) has raised US$1.15 billion by divesting a small portion of its stake in Indian telecom operator Bharti Airtel, continuing its active portfolio optimization strategy.

The sale, executed via a private placement to institutional investors, involved 1.5 billion Singapore dollars (0.8% of Airtel) and is expected to generate an estimated S$1.1 billion gain. Following the transaction, Singtel’s stake in Bharti Airtel will stand at 27.5%, valued at approximately S$51 billion.

Group CFO Arthur Lang said the divestment is part of Singtel’s ongoing