SingTel to sell stake in Trustwave for $205 million By Reuters

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<span>© Reuters. FILE PHOTO: A view of Singtel’s head office in Singapore May 12, 2016. REUTERS/Edgar Su/File Photo</span><br />
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<p>(Reuters) – Singapore Telecommunications on Monday said it entered into an agreement with MC2 Titanium, LLC to sell its stake in cyber security business Trustwave for $205 million.</p>
<p>Southeast Asia’s largest telecom firm began a strategic review of its 98% interest in Trustwave in 2021 after buying it for $770 million in 2015. </p>
<p>The divestment comes after SingTel incurred an impairment charge of S$336 million ($245.92 million) on Trustwave in the second half of 2021. </p>
<p>The divestment is expected to be completed by the fourth quarter and will not have a material impact on the group for fiscal 2024, the company said in a statement. </p>
<p>($1 = 1.3663 Singapore dollars) </p>
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<br /><a href="https://www.investing.com/news/stock-market-news/singtel-to-sell-stake-in-trustwave-for-205-million-3187519">Source link </a></p><p>The post <a href="https://forextraderhub.com/singtel-to-sell-stake-in-trustwave-for-205-million-by-reuters.html">SingTel to sell stake in Trustwave for $205 million By Reuters</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>