Singtel (SGX:Z74) moved to clarify an article published by The Wall Street Journal on Feb. 1, regarding its move to acquire STT GDC, according to a same-day filing with the Singapore Exchange.

Shares of the telecommunications company were up over 1% in Monday trading.

According to the article, Singtel and KKR were reported to be close to acquiring Singapore data center firm, STT GDC, valued at $10 billion.

However, the company says that it has continued the discussions and while those discussions have reached an advanced stage, there is still no certainty over whether the parties involved will reach a definitive or binding agreement.

The company said that it will be disclosing material developments, if any, in accordance with the listing requirements of the Singapore Exchange.

Singtel jumps 4.53% at 3:48 pm, Feb 3.