SQL & PL/SQL :: Is Select Privileges (grants) Needed For Created Synonym

After created synonym, Is select privileges(grants) needed for created synonym? SQL> create or replace synonym gm_holding for gmblbpna. gm_ holding;

Synonym created.

SQL> select *
2 from gm_holding;
from gm_holding
*
ERROR at line 2: ORA-00942: table or view does not exist

SQL> connect gmblbpna/gmblbpna@o03gpa0
Connected.
SQL> grant select on gm_holding to solvency;

Grant succeeded.

SQL> connect solvency/solvency@o03gpa0
Connected.
SQL> select count(1)
2 from gm_holding;
COUNT(1)
----------
346742
SQL>

why grant need for synonym?