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: Amazon readying an attack on Google's ad business

add to favorites email to friend print save as pdf

Related Stories

Recommended for you

Official says hackers hit up to 25,000 US workers

6 minutes ago

The internal records of as many as 25,000 Homeland Security Department employees were exposed during a recent computer break-in at a federal contractor that handles security clearances, an agency official said Friday.

Oregon sues Oracle over failed health care website

10 hours ago

Oregon Attorney General Ellen Rosenblum says she's filed a lawsuit against Oracle Corp. and several of its executives over the technology company's role in the state's troubled health insurance exchange.

Google buys product design firm Gecko

10 hours ago

Google on Friday confirmed that it bought Gecko Design to bolster its lab devoted to technology-advancing projects such as self-driving cars and Internet-linked Glass eyewear.

User comments : 0