Temasek seeks to sell $3.1 bln stake in Thailand’s Shin Corp to SingTel – Reuters, February 17, 2014
…Temasek owns 52 percent of SingTel and a successful acquisition by the latter of the Shin Corp stake would help SingTel to boost its exposure to a relatively bigger market and offset sluggish growth in mature economies.
Shin Corp controls the biggest Thai mobile phone operator, and has interests in several telecommunications businesses, including Advanced Info Service Pcl, Thailand’s largest mobile phone operator, and satellite firm Thaicom Pcl . SingTel already owns 23 percent of AIS.
Along with Thai investors, Temasek and Surin Upatkoon bought the 96 percent Shin Corp holding in 2006 through a vehicle known as Cedar Holdings Ltd. While Cedar has since sold most of its ownership, Temasek remains a Shin Corp shareholder through a subsidiary called Aspen…
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