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Temasek seeks SingTel as buyer for $3.9b Shin Corp stake: Sources

Published on Feb 18, 2014 8:32 AM
 
Singapore state investor Temasek Holdings Pvt Ltd is seeking to sell its US$3.1 billion (S$3.9 billion) stake in Thai telecom company Shin Corp, according to people familiar with the matter, and has approached its SingTel unit as a possible buyer. -- ST FILE PHOTO: TAN SUAN ANN

SINGAPORE/HONG KONG (REUTERS) - Singapore state investor Temasek Holdings Pvt Ltd is seeking to sell its US$3.1 billion (S$3.9 billion) stake in Thai telecom company Shin Corp, according to people familiar with the matter, and has approached its SingTel unit as a possible buyer.

Temasek, which owns 41.6 per cent of Shin Corp through a subsidiary, held talks with Singapore Telecommunications Co, as SingTel is formally known, late last year, but those discussions have since stalled, said the people, who declined to be identified as the information is not public.

Temasek owns a majority stake in SingTel.

The ongoing political unrest in Thailand was among the reasons the discussions were put on hold, the people said.

 
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