SINGAPORE (April 28): Rising competition in Singapore Telecommunications Ltd.’s key markets across Asia has prompted one of the world’s biggest independent money managers to sell the stock.

Henderson Global Investors, which oversees about US$130 billion ($181 billion) globally, sold its Singtel holdings in Asia-based portfolios last month, said Sat Duhra, who manages Asian dividend-focused investments for Henderson. Singtel’s key markets are growing more crowded as Australian carrier TPG Telecom steps up its regional expansion, Duhra said.

Singtel shares fell as much as 1.1% in Singapore.

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