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.
