Singtel shares fall as much as 3.7% after two-day rally on STT GDC deal
The telco and KKR will acquire the remaining 82% stake that they do not own in STT GDC
[SINGAPORE] Shares of Singtel fell as much as 3.7 per cent after surging for two days, following the confirmation of its purchase of data centre operator STT GDC as part of a KKR-led consortium.
The counter dropped as low as S$4.73 as at 1.12pm on Thursday (Feb 5), down S$0.18 from its previous closing price of S$4.91.
Singtel shares had climbed 1 per cent on Wednesday (Feb 4) to close S$0.05 higher after the deal was announced, having run up 4.7 per cent the day before in anticipation of the transaction.
The telco and private equity player KKR will acquire the remaining 82 per cent stake that they do not own from STT GDC’s parent company, ST Telemedia, for S$6.6 billion.
Upon completion of the deal in the second half of 2026, Singtel and KKR will own stakes of 25 per cent and 75 per cent, respectively, in STT GDC.
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