ST Telemedia to reduce its stake in Malaysia's U Mobile
The Straits Times|December 07, 2024
A Temasek firm is cutting its investment in a Malaysian phone company that recently won a major 5G contract, selling part of its stake to an entity controlled by tycoon Vincent Tan and the Malaysian King's daughter.

Singapore Technologies Telemedia (ST Telemedia) said its unit, Straits Mobile Investments, will reduce its shareholding in U Mobile to 20 per cent in the deal agreed on Dec 4, according to a statement to the Singapore Exchange. ST Telemedia is owned by Singapore's investment company Temasek and currently holds 48 per cent, according to a filing with the Companies Commission of Malaysia.

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