Asian Tech Press (Oct 20) -- Singapore's GIC Private Limited buys 12.146 million shares in China Telecom (00728.HK) at an average price of HK$2.8033 per share on Oct 15.

After the transaction, GIC's latest shareholding was 1.814 billion shares, and its shareholding ratio increased from 12.99% to 13.07%, according to HKEx filing.

GIC Private ltd. is a sovereign wealth fund established by the Singapore government in 1981 to manage the country's foreign exchange reserves. And China Telecommunications Corporation (China Telecom) is one of the three largest state-owned telecommunications companies in China.