SingTel-Deutsche deal off

Thu, 13 Jan 2000 | Source: AFP

SINGAPORE (AFP): A planned billion-dollar deal between Singapore Telecommunications Ltd. (SingTel) and Deutsche Telekom has been effectively postponed due to opposition from the German telephone giant's Malaysian partner, a report said on Wednesday.

The Malaysian unit, Technology Resources Industries Bhd. (TRI), was against plans by Deutsche Telekom and SingTel to pool their regional mobile resources, Singapore's Business Times reported, without giving details of the objection.

SingTel had acknowledged previously that they were holding talks with the German phone company but did not explicitly say what the discussions were about, industry analysts said.

SingTel said on Wednesday the discussions were continuing.

"We have no comment on the report but we have said that we are in discussions with Deutsche Telekom, and therefore the status quo applies," SingTel spokesman Lim Seng Jin told AFP.

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