A Temasek Holdings Pte firm’s stake sale agreement values U Mobile Sdn. at about 7.5 billion ringgit ($1.7 billion), according to people familiar with the matter, after the Malaysian phone company won a major 5G contract.
Straits Mobile Investments Pte, a subsidiary of Singapore Technologies Telemedia Pte, which is wholly owned by Singapore state investor Temasek, is cutting its holdings after Prime Minister Anwar Ibrahim’s government picked U Mobile last month to build Malaysia’s second 5G network.
Vincent Tan in 2014.
Photographer: Nicky Loh/Bloomberg
The purchaser, a company owned by the tycoon Vincent Tan and the Malaysian king’s daughter, negotiated for payment to be deferred ...
