ST Telemedia investing in U Mobile. According to StarBiz, Singapore Technologies Telemedia (ST Telemedia) will buy a 33% stake in U Mobile for RM625m as part of its RM1bn investment commitment to enter into the Malaysian telecommunications market. The balance would be used to participate in a planned rights issue by U Mobile. U Mobile has been seeking a strategic partner after both Japan’s NTT DoCoMo and South Korea’s KT Freetel had sold back their collective 33% stake in U Mobile last year to major shareholder, U Television, for a reported US$200m.
Telecommunications Sector : ST Telemedia To Buy 33% Stake In U Mobile - 16/03/2010
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