SingTel's joint venture deal

SingTel's joint venture deal

SINGAPORE (AFP): Singapore Telecommunications Ltd. (SingTel) is soon to announce a joint venture deal with Deutsche Telekom AG to operate regional mobile phone businesses, the Business Times said Friday.

SingTel and Deutsche Telekom's cellular phone interests in the region, particularly in Indonesia, the Philippines and Thailand, are estimated to be worth more than S$1 billion (US$595 million), the report said.

The news comes amid rumors over the past few months of a tie- up between the two major carriers.

The deal to operate jointly their mobile phone businesses would allow them to offer value added services to customers at lower prices, including roaming services at local rather than international rates, the report said.

SingTel and Deutsche Telekom discussed the alliance with local partners in the mobile operations, it added.

Overseas investments have been vital to SingTel's strategy to deal with the prospect of falling profits at home.