Singapore Telecommunications (SingTel) is looking to raise its stake in Thail firm Advanced Info Service (AIS) to 23.32 percent, costing some $260 million, The Wall Street Journal reports. Shin Corp. which holds a 42.6 percent stake, will offload 61 million shares in AIS to SingTel. Singapore’s state investment company Temasek Holdings controls Shin Corp.
At present, SingTel holds a 21.27 percent stake in AIS. The company has more than 416 million mobile phone customers in 25 countries. The deal, which is subject to regulatory and Shin Corp. shareholder approval, will be funded with cash upon completion.
Click here for the story from The Wall Street Journal.
Advanced Info Service Singapore Telecommunications SingTel Thailand Temasek Holdings