ST Telemedia said it has provided funding to U Mobile from time to time in the form of “certain financial instruments” and they will form part of the sale. — Reuters
Singapore: A Temasek Holdings Pte firm’s stake sale agreement values U Mobile Sdn Bhd at about RM7.5bil or about US$1.7bil, according to people familiar with the matter, after the Malaysian phone company won a major 5G contract.
Straits Mobile Investments Pte, a subsidiary of Singapore Technologies Telemedia Pte (ST Telemedia), which is wholly owned by Singapore state investor Temasek, is cutting its holdings after Prime Minister Anwar Ibrahim’s government picked U Mobile last month to build Malaysia’s second 5G network.
