Singtel - RHB Research 2026-02-02: Closing In On STTGDC; Keep BUY

• Singtel (SGX:Z74) said it is in advanced talks to acquire ST Telemedia Global Data Centre (STTGDC) as part of a consortium with KKR. We view the development positively to strengthen its regional data centre (RDC) business, a key growth engine benefitting from strong global artificial intelligence (AI) tailwinds.
• - Read this at SGinvestors.io -

Closing in on the largest DC leveraged buyout deal since 2024.

• The Wall Street Journal reported that the Singtel-KKR consortium is nearing a deal to acquire STTGDC, which would value the latter at >S$13bn (>US$10bn). Singtel confirmed in Nov 2025 that it was in talks to acquire STTGDC as part of a consortium.
• In its 1 Feb media release, Singtel said talks had reached an advanced stage although there was no certainty a binding agreement would be reached.
• - Read this at SGinvestors.io -
• The deal is set to be the biggest leveraged DC buyout deal since Blackstone’s AUD24bn acquisition of Australia’s AirTrunk in 2024.

STTGDC will be highly synergistic to the RDC/Nxera business.

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Previous report by RHB:
2025-11-12 Singtel - Strong Earnings Delivery; Still BUY.

Price targets by 4 other brokers at Singtel Target Prices.

Listing of research reports at Singtel Analyst Reports.

Relevant links:
Singtel Share Price History,
Singtel Announcements,
Singtel Dividend Payout Dates & Corporate Actions,
Singtel News