Singapore's Temasek sells stakes in Thai telco Intouch for $506 million [Reuters]
SINGAPORE TELECOM S/ADR (SGAPY)
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Source: Reuters
Singapore's Temasek sells stakes in Thai telco Intouch for $506 million - Reuters 2 Min Read BANGKOK (Reuters) - Units of Singapore’s sovereign fund Temasek - Aspen Holdings and Anderton Investments - launched an overnight block trade on Wednesday for 15.6 billion baht ($505.67 million) or 8.02% of its stakes in Thai telco company Intouch Holdings Pcl ( INTUCH.BK ), according to a term sheet. Intouch owns stakes in Thailand’s largest mobile phone network Advanced Info Service Pcl (AIS) ( ADVANC.BK ) and satellite operator Thaicom Pcl ( THCOM.BK ). The deal, Southeast Asia’s largest block trade in 2019, sent Intouch shares down nearly 6% on Thursday in Bangkok trading. Intouch shares, however, gained 27% year-to-date against a benchmark rise of 3.55% .SETI ; stock was priced at 60.75 baht on Thursday at a pre-close of 64.5 baht. Intouch did not immediately respond to a Reuters request for comment. Former Prime Minister Thaksin Shinawatra sold InTouch, then known as Shin Corp, to T
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