Singapore Telecommunications Ltd. said it will raise its stake in Thailand's Advanced Info Service PCL to 23.32% at a cost of about 328 million Singapore dollars (US$260 million), a move seen as a strategy to maximize value from its existing businesses.
(C) WSJ
In a filing to the Singapore Exchange late Friday, SingTel, Southeast Asia's biggest telecommunications company by revenue, said that Shin Corp PCL. has agreed to sell 61 million shares in Advance Info Services.
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