In a statement to the Singapore Exchange, SingTel said both itself and Cable & Wireless plc -- Cable & Wireless HKT's parent -- are currently in discussions and this could lead to a merger between SingTel and Cable & Wireless HKT.
This would then create a leading independent communications company in the Asia Pacific region, SingTel said.
The Singapore telco, however, emphasised that the talks are at a stage where the outcome is still uncertain.
"However, in the event that any proposal is made, it is likely to reflect market values of SingTel and Cable & Wireless HKT for recent periods," SingTel added.
Should an agreement be reached, the terms and conditions will be subject to the approval of the board of directors (of SingTel) and obtaining any necessary government, shareholder and regulatory approvals.
SingTel closed at S$2.85 Monday, down S$0.33 by 10.4 percent following last Friday's telecommunications liberalization plan by the Government.
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