SingTel seeks RI stake

SingTel seeks RI stake

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.