Singtel Sells $772.9 Million Stake in Thai Energy Firm to Fund AI and Data Center Investments
Singapore Telecommunications (Singtel) has sold a 2.8% stake in Thailand's Gulf Development for approximately SGD 1 billion ($772.9 million), generating an equity gain of around SGD 140 million. The proceeds will support Singtel’s increased investments into AI and data centers, with capital expenditure expected to reach SGD 3 billion this fiscal year.
Topics: AI and data centers capital allocation energy investment telecom