SingTel is in the news because of reports that its successful bid for EPL rights made FIFA up the price for the World Cup rights for S’pore. Great screw-up: sabo Starhub, end up saboing S’poreans?
But S’poreans might want to know (not reported in MSM) that its 32% owned associate in India has just issued a set of bad results. Dominant operator Bharti Airtel announced a 2% (‘peanuts’ Mrs Goh Chok Tong would say) year-on-year increase in earnings in the fourth quarter. Bharti’s average revenue per user dropped 30% over the past year to US$7 per month.
Twelve companies all with big ambitions and plenty of cash are fighting a price war. Worse more players are coming.
So while the value of its Indian investment is in peril, it is focusing in S’pore on the entertainment biz. No wonder it is trying to sell a 25% stake in Optus at a highish valuation. It got to look gd somewhere.