Singtel: To increase stake in assoc Advanced Info Sys from 21.3% to 23.3% at VWAP of 20 trading days prior to EGM. The est price and cost range from THB130 per share ($328m) to THB119 per share ($300m). As at 4 Nov, AIS share price was approx THB135 per share. Co will buy the 61m block of shares from Shin Corp subject to regulatory and shareholder approval.
Separately 32% owned Bharti Airtel has mentioned that it would look to raise between US$750m - US$1b in bonds to manage its debt costs once market conditions improve.
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