© Reuters. FILE PHOTO: A view of Singtel’s head workplace in Singapore Could 12, 2016. REUTERS/Edgar Su/File Picture
(Reuters) – Singapore Telecommunications on Monday mentioned it entered into an settlement with MC2 Titanium, LLC to promote its stake in cyber safety enterprise Trustwave for $205 million.
Southeast Asia’s largest telecom agency started a strategic evaluation of its 98% curiosity in Trustwave in 2021 after shopping for it for $770 million in 2015.
The divestment comes after SingTel incurred an impairment cost of S$336 million ($245.92 million) on Trustwave within the second half of 2021.
The divestment is anticipated to be accomplished by the fourth quarter and won’t have a cloth affect on the group for fiscal 2024, the corporate mentioned in an announcement.
($1 = 1.3663 Singapore {dollars})
