SingTel sells Warid Telecom stake to Abu Dhabi

SINGAPORE Tue Jan 29, 2013 4:41pm IST

A woman uses a phone at the lobby of a Singtel office in Singapore March 12, 2010. REUTERS/Vivek Prakash

A woman uses a phone at the lobby of a Singtel office in Singapore March 12, 2010.

Credit: Reuters/Vivek Prakash

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SINGAPORE (Reuters) - Singapore Telecommunications said on Tuesday it has agreed to sell its entire 30 percent stake in Pakistan's Warid Telecom to a unit of the Abu Dhabi Group for $150 million.

"Excluding the value of any future transaction interest, the estimated loss on disposal will be approximately S$230 million ($186 million), including the foreign currency translation losses and transaction costs," SingTel said in a stock market filing.

(Reporting by Kevin Lim)