The two are thought to be the most likely to land the stake in ST Telemedia Global Data Centres, for $1bn
Singtel and private equity company KKR are jointly bidding for a stake of up to 20% of ST Telemedia Global Data Centres (STT GDC) for $1 billion (€0.92 billion). Reuters suggests it is the frontrunner in the bidding process. The other potential bidder is Stonepeak. The outcome is expected in be made public in early June.
ST GDC runs datacentres in Singapore, the UK, Germany, India, Thailand, South Korea, Indonesia, Japan, the Philippines, Malaysia and Vietnam, where it recently set up a joint venture with VNG, a local tech firm.
Data and AI
According to ST GDC, global demand for data and AI services is boosting the use of cloud and datacentre services, reflected in a raft of recent announcements.
For example, last week Singtel announced its new strategy, Singtel28, “a new growth plan to deliver enhanced customer experiences and sustained value realisation for shareholders”. It identified the new growth engines as ICT and datacentres. It plans to scale up operations in both, and expand its Nxera datacentre division in the Asia-Pacific region.