📈 Data Deal: Singapore’s largest telecom operator Singtel jumped 5.4% to a new ATH of S$4.50. Together with KKR, it is in talks to acquire more than 80% of ST Telemedia Global Data Centres — a deal worth over S$5 billion (~US$3.9 billion).
🏗️ Infrastructure Giant: STT GDC operates more than 100 data centers with over 2 gigawatts of IT capacity across more than 20 markets, including Singapore, India, and Japan. In Europe, it runs under the Virtus brand.
🧠 AI Boost: The boom in artificial intelligence is driving an explosion in demand for computing capacity, turning data centers into critical infrastructure. The deal could become one of the largest in Asia.
💸 Cash in India: At the same time, Singtel subsidiary Pastel plans to sell 51 million Bharti Airtel shares in November for around US$1.2 billion, about 3% below the last closing price. The goal: portfolio optimization and fresh cash flow after Airtel’s stock rally.
Big Picture
With this acquisition, they would gain full control and the freedom to shape Asia’s next data center champion.
Across Asia, the race for computing power and networks is intensifying. While Nvidia ships 260,000 GPUs to Korea, scaling industrial AI projects from Samsung to Hyundai, Singtel and KKR are tightening the bolts on the data-center backbone that powers Asia’s new AI industry.
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