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Singapore Telecommunications Limited’s (ASX:SGT) biggest shareholder Temasek Holdings has declared it has entered into an agreement to sell 400 million shares in the company.
The Asia focused investment firm which is based in Singapore, will reduce its share to about 51.3 per cent from 54.4 per cent assuming all shares are sold.
Temesek says it will continue to be a significant shareholder, with SingTel remaining as its largest company in its portfolio.
Singapore Telecommunications reported a full year net profit of $3.05 billion.
