Channel NewsAsia

Temasek reportedly looking to sell stake in Thailand's Shin Corp

Temasek Holdings is seeking to sell its stake in Thai telecom company Shin Corp in a deal that could be worth around US$3.1 billion, Reuters reported on Tuesday, citing people familiar with the matter.

SINGAPORE: Temasek Holdings is seeking to sell its stake in Thai telecom company Shin Corp in a deal that could be worth around US$3.1 billion, Reuters reported on Tuesday, citing people familiar with the matter.

Reuters said Temasek, which owns 41.6 percent of Shin Corp through a subsidiary, held talks with Singapore Telecommunications (SingTel) about a possible sale late last year.

Both Temasek and SingTel declined comment when contacted by Channel NewsAsia, saying it was not their policy to respond to market speculation.

Temasek's stake in Shin Corp, founded by former Thai Prime Minister Thaksin Shinawatra, is worth US$3.1 billion based on the firm's current share price.

Temasek and a group of investors together bought 96 percent of Shin Corp in 2006.

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