Thai PM family sells stake in telecom Shin

Jan 24, 2006

Singapore's Temasek and its partners have purchased a nearly 50-percent stake in Shin, the Thai wireless phone company.

The transaction cost was pegged at nearly $2 billion and turns 49.6 percent of Shin over to Temasek, an investment fund of the Singapore government, as Thai-owned investment groups Aspen Holdings and Cedar Holdings.

A news release from the investors said it looked forward to strengthening Shin's position in the Thai telecom sector and in the entire region. The sale is expected to increase the chances of regional acquisitions and joint ventures by other Asian telecom companies.

Shin Corp. was founded by the family of Prime Minister Thaksin Shinawatra. The sale was driven in part by the family's desire to eliminate potential conflicts of interest for the prime minister.

Copyright 2006 by United Press International

Explore further: Study examines websites' password practices

add to favorites email to friend print save as pdf

Related Stories

Recommended for you

Fuel cells to connect our smartphones to the outside world

37 minutes ago

The potential of hydrogen and fuel cell applications goes way beyond the development of green cars. The FCPOWEREDRBS team is determined to prove this with a Fuel Cell technology to power off-grid telecom stations. They believe ...

China condemns 'cyber terrorism' in wake of Sony attack

3 hours ago

China's foreign minister condemned all forms of "cyber terrorism" in talks with his American counterpart, a statement said Monday, as the US accused Beijing's ally North Korea with being behind a cyber attack on Sony Pictures.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.