Capital Group becomes substantial Singtel shareholder
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Capital Group has become a substantial shareholder of Singapore Telecommunications, increasing its deemed interest to 5.1% after acquiring 19,314,800 shares at an average price of $4.67 on May 6. This purchase raised its total shares to 837,947,249, making it the second-largest shareholder after Temasek. The transaction occurred after Singtel shares declined from a peak of $5.21. Singtel's stock closed at $4.69 on May 8, reflecting a 1.08% increase for the day and 2.4% year-to-date. The company will report its full-year earnings on May 21.
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