The report quoted SingTel Chief Executive Officer Chua Sock Koong as saying that the talks were "at an extremely preliminary, exploratory stage".
The company's CEO for international operations Lim Chuan Poh was quoted as saying that it was too early to determine if Bharti would make a bid for MTN.
The executives were talking at company's annual results event in Singapore.
SingTel, which holds a 30.50 per cent stake in Bharti Airtel, had mentioned earlier that the company was eyeing a potential acquisition in South African operator MTN Group through the Indian telecom operator Bharti Airtel.
On Tuesday, Bharti Airtel said in a statement: "This is further to Bharti's earlier statements regarding ongoing exploratory discussions with MTN. Bharti would like to clarify that it has not made any bid nor is there any requirement to make a bid, as has been incorrectly speculated and reported".
"The discussions being held are aimed at combining the strengths of the two leading emerging markets players and accordingly veering towards possible structures to achieve this objective. Bharti would like to reiterate that these discussions are still exploratory in nature and may or may not lead to any transactions," it added.
SingTel reported a 4.8 per cent full-year increase in net profit, which was driven by the mobile subscriber additions from India. SingTel is 56 per cent owned by state-linked investment firm Temas.
