Singaporean billionaire defends Millennium Hotels bid in face of investor opposition

Singaporean billionaire defends Millennium Hotels bid in face of investor opposition

City Developments Ltd. (CityDev) Executive Chairman Kwek Leng Beng (L) speaks beside his brother and CityDev's Managing Director Kwek Leng Joo during St Regis Residence launch ceremony in Singapore June 1, 2006. REUTERS/Tim Chong (SINGAPORE)

Kwek Leng Beng, the Singaporean billionaire attempting to take over Millennium & Copthorne Hotels, defended his bid on Monday after a group of investors argued it was too low and sought to block the deal.

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