Singapore Telecommunications (Singtel), via its wholly-owned subsidiary Singtel Global Investment, has acquired some 121.16 million shares in Intouch Holdings for $330 million.
The consideration of the shares represents a 5% discount to the volume weighted average price (VWAP) of each Intouch share on the Stock Exchange of Thailand for the 20 Thai trading days before the acquisition. The consideration will be satisfied in cash.
The shares were acquired from Temasek’s Anderton Investments, bringing Singtel’s total stake in Intouch Holdings to 24.99% from 21.21% previously.
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