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Temasek sells stakes in Thai telco Intouch for $701 mil

Reuters
Reuters8/15/2019 02:56 PM GMT+08  • 1 min read
Temasek sells stakes in Thai telco Intouch for $701 mil
(Aug 15): Units of Singapore's sovereign fund Temasek -- Aspen Holdings and Anderton Investments -- launched an overnight block trade on Wednesday for 15.6 billion baht ($701 million) or 8.02% of its stakes in Thai telco company Intouch Holdings, acco
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(Aug 15): Units of Singapore's sovereign fund Temasek -- Aspen Holdings and Anderton Investments -- launched an overnight block trade on Wednesday for 15.6 billion baht ($701 million) or 8.02% of its stakes in Thai telco company Intouch Holdings, according to a term sheet.

Intouch owns stakes in Thailand's largest mobile phone network Advanced Info Service (AIS) and satellite operator Thaicom.

The deal, Southeast Asia's largest block trade in 2019, sent Intouch shares down nearly 6% on Thursday in Bangkok trading. Intouch shares, however, gained 27% year-to-date against a benchmark rise of 3.55%; stock was priced at 60.75 baht on Thursday at a pre-close of 64.5 baht.

Intouch did not immediately respond to a Reuters request for comment.

Former Prime Minister Thaksin Shinawatra sold InTouch, then known as Shin Corp, to Temasek in 2006, setting off public criticism that led to his ousting in a coup.

SingTel currently owns 21% of InTouch.

Credit Suisse was one of the book-runners.

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