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Singtel reviewing strategic options for its Thai units following bid for them

But prospective buyer's relatively low premium for asset with firm yield appears unlikely to succeed: analysts

Singapore

MAINBOARD-LISTED Singtel is reviewing its options in relation to Advanced Info Service (AIS), after an energy player launched a bid for the Thai telecoms operator and its controlling shareholder on Monday.

Calling its stakes in Intouch Holdings and AIS "strategic investments", Singtel said in a bourse filing that "we believe in the long-term outlook of the businesses", and will ensure that Intouch and AIS shareholders "get the full benefit of the intrinsic value".

While Singtel has not publicly committed to a decision so far, stock watchers seem unimpressed by the surprise conditional voluntary offer from Thai-listed power producer Gulf Energy Development.

Noting that AIS is a key part...

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