Singapore Telecommunications on Monday (Oct 2) said it entered into an agreement with MC2 Titanium, LLC to sell its stake in cyber security business Trustwave for US$205 million (S$280 million).

Southeast Asia's largest telecom firm began a strategic review of its 98 per cent interest in Trustwave in 2021 after buying it for US$770 million in 2015.

The divestment comes after Singtel incurred an impairment charge of S$336 million&nbsp;on Trustwave in the second half of 2021.

The divestment is expected to be completed by the fourth quarter and will not have a material impact on the group for fiscal 2024, the company said in a statement.

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A view of Singtel's head office in Singapore May 12, 2016. 

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Reuters

Singapore Telecommunications on Monday (Oct 2) said it entered into an agreement with MC2 Titanium, LLC to sell its stake in cyber security business Trustwave for US$205 million (S$280 million). Southeast Asia's largest telecom firm began a strategic review of its 98 per cent interest in Trustwave in 2021 after buying it for US$770 million in 2015. The divestment comes...

Singtel to sell stake in Trustwave for $280m