SINGAPORE/HONG KONG: Singapore state investor Temasek Holdings Pvt Ltd is seeking to sell its $3.1bn stake in Thai telecom company Shin Corp and has approached its SingTel unit as a possible buyer, people familiar with the matter said.
Heralding an overhaul of its telecom assets, Temasek held talks with SingTel late last year about selling the 41.6 percent of Shin Corp it owns through a subsidiary, the people said.
Talks over a stake in the company that controls the biggest Thai mobile telecoms operator and was bought from the family of ousted former prime minister Thaksin Shinawatra have since stalled amid political tensions in Thailand, the people said. SingTel, formally known as Singapore Telecommunications Co, is 52 percent-owned by Temasek.
The move by Temasek, which oversees $170bn in assets, is in line with its plans to consolidate portfolio companies in industry groupings. This would be its first move toward bringing its telecoms assets under one roof, analysts said. Reuters
