Singapore Stock Market News
SingTel - Divested Far EasTone stake
StockFanatic
Publish date: Fri, 27 Apr 2012, 09:55 AM
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SingTel has just announced that it has divested its entire 3.98% equity stake in Taiwan's Far EasTone Telecommunications (FETT), selling a total of 129.6m shares at an average price of NT$62.
Based on our SOTP-valuation, the market value of FETT contributes about S$0.02.
However, we will hold off adjusting our estimates and fair value ahead of the release of its FY12 results (due 10 May).
For now, we maintain our BUY rating and S$3.69 fair value.
Source : OCBC Research
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