SingTel seeks RI stake

Thu, 12 Jun 1997 | Source: REUTERS

SINGAPORE (Reuter): Singapore Telecommunications Ltd (SingTel) is planning to take "significant equity stakes" in major telecommunications operators in Thailand and Indonesia, the Straits Times newspaper reported yesterday.

It quoted unidentified sources as saying SingTel was likely to buy into Indonesia's PT Telkom as well as either the Telephone Organisations of Thailand (TOT) or the Communications Authority of Thailand (CAT).

The newspaper said SingTel declined to disclose details of its plans but quoted Singapore Telecom International chief Allen Lew as saying he expected one deal to be announced later this year and another early in 1998.

"These will be equity acquisitions in new companies, not companies that we already have stakes in," Lew was quoted as saying.

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