SingTel exits Far EasTone through $272 million block trade

Singapore Telecommunications SingTel yesterday sold its entire stake in Taiwan telecom operator Far EasTone Telecommunications, raising NT$8.04 billion $272 million. The deal came after a strong run in the share price during the past six months and on a busy day for block trades in Asia.

Earlier in the day Rabobank trimmed its stake in India’s Yes Bank through a Rs45.3 billion $86 million transaction and last night a group of existing shareholders attempted to raise at least $567 million by selling a combined 15% stake in Malaysian offshore services provider Bumi Armada. The latter deal came with an upsize option that could see it expand...