Temasek's ST Telemedia backs GDS against shortseller's attack

Singapore

GDS Holdings, a unit of Temasek Holdings' ST Telemedia (STT), has hit back against a short-seller report after allegations of chicanery knocked off 37.2 per cent of the Nasdaq-listed company's market value on Tuesday.

"The report's allegations are false, its conclusions are incorrect and its premises reflect a fundamental misunderstanding of the company's business," GDS Holdings, a Nasdaq-listed developer and operator of data centres in China, said in an initial rebuttal on Wednesday night.