Friday SWFI News Roundup, August 19, 2016
Temasek Sells 21% Stake in Intouch Holdings to Singtel
Singapore’s Temasek Holdings, through its sovereign wealth enterprises, is selling a 21% stake in Intouch Holdings, a Thailand telecommunications conglomerate formerly known as Shin Corporation, to Singtel for S$ 2.47 billion. Singtel is 51% owned by Temasek. Singtel is funding the transaction by issuing short-term debt, while allocating new shares to Temasek worth S$ 1.6 billion, at S$ 4.16 per share. In addition, Singtel is buying a 7.39% stake in Bharti Telecom for S$ 884 million from subsidiaries of Temasek Holdings. Before this deal, Singtel already owns a large 39.78% ownership stake in Bharti Telecom.
CIC Rumored to be Looking at Vale Streaming Deal
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