Singtel raises stake in Thai subsidiary Intouch in $216m deal

Singtel raises stake in Thai subsidiary Intouch in $216m deal

Photo by Keiichiro Asahara

Singapore Telecommunications (Singtel) on Thursday proposed to raise its stake in Thailand-headquartered subsidiary Intouch Holdings from 21.21% to 24.99% by acquiring an additional 3.78% stake from Temasek’s wholly-owned subsidiary Anderton Investments.

As part of the transaction, Singtel, via its wholly-owned subsidiary Singtel Global Investment, will pay S$330 million ($216 million) in cash for some 121.16 million shares in Intouch Holdings.

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