Moody's: SingTel unaffected

Moody's Investors Service said that the proposed acquisition by Singapore Telecommunications Ltd. of Amobee Inc. for about $321 million, and the corporate restructuring that comes into effect on April 1, will have no immediate impact on its Aa2/stable rating though negative pressure is emerging.

"The Amobee acquisition is a step in the right direction to future proof SingTel's revenue stream and diversify revenue sources away from the traditional telecom services revenues, where margins are on a decline" Moody's vice president and senior credit officer Laura Acres said in a news release.

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