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A WHOLLY owned subsidiary of media group Singapore Press Holdings Limited (SPH) has completed the divestment of its stake in 701Search Pte Ltd.
Following the announcement, SPH closed trading at S$3.23 on Friday, down two Singapore cents, or 0.62 per cent.
On May 12 this year, it was announced that SPH Interactive International Pte Ltd (SPHII), had entered into a conditional agreement with Telenor Communication II AS for the divestment of SPHII's stake in 701Search.
701Search has now ceased to be an associated company of SPH.