Singtel Shares Touch Highest Since 1993 on Data Center Report

Singapore Telecommunications Ltd. shares touched their highest level since 1993 on investor optimism for a potential further push by the company into the high-growth market for data centers.

Shares of the telecom firm 50%-owned by wealth fund Temasek Holdings Pte. rose as much as 5.1% Friday. That extended a 5.4% rise Thursday after Reuters reported Singtel and KKR & Co. are in advanced talks to buy out ST Telemedia Global Data Centres.