Singtel shuts Mauritius unit linked to Bharti Airtel stake

Singapore Telecommunications said its unit, Viridian, had been ​placed under members’ voluntary liquidation.

Singtel, Southeast Asia’s largest telecom firm, said it also appointed ​a liquidator to manage the ​winding up of the Mauritius-incorporated unit.

The ⁠telecom firm said the winding ​up of Viridian is not expected ​to have any material impact on the group’s net tangible assets or earnings per ​share.

Viridian Group has historically served ​as a corporate holding vehicle within the ‌Group’s ⁠structure for managing equity holdings and investments — most notably its long-standing stake in Indian telecommunications giant Bharti ​Airtel.

Singtel, through ​units ⁠Pastel and Viridian, had disposed of a 3.3% stake ​in Bharti Airtel for S$2.54 billion, opens new tab ($1.97 ​billion) ⁠in August 2022.

The Singapore-listed firm currently owns a 7.3% stake in ⁠Bharti ​Airtel, according to LSEG ​data. Reuters