Singtel, Temasek decline comment on Thai deal report

Singapore

BOTH Singapore Telecommunications (Singtel) and Temasek Holdings on Tuesday refused to comment on a media report that a deal was in the offing for Temasek to sell a portion of its US$2.4 billion stake in Thailand's Intouch Holdings PCL, which translates to about 41 per cent of the total shareholding of the Thai company.

The Wall Street Journal on Tuesday reported that Singtel had revived talks to purchase a portion of Temasek's stake in the Thai company founded by former Thai Prime Minister Thaksin Shinawatra. The paper reported that Singtel had earlier explored a similar deal in 2013.