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Wireless Federation » archive for 'Temasek'

Anti-trust watchdog orders Temasek to sell telco stakes (Indonesia)

  • November 20th, 2007
  • 2:36 pm

 The Indonesian anti-trust watchdog has said that Temasek Holdings has violated competition laws and ordered the investment group of the Singapore government to sell its stakes in Indosat or Telkomsel within two years. In a hearing the KPPU said it would fine Temasek and its telecommunications units IDR 25 billion each, Reuters reports. The KPPU further stipulated that buyers acquiring Temasek’s stakes were not allowed to buy more than 5 percent of the shares and cannot be affiliated with Temasek or other buyers. Temasek holds a 35 percent stake in Telkomsel through subsidiary SingTel while ST Telemedia, which is wholly owned by Temasek, has a 41.9 percent share in Indosat through a subsidiary, Asia Mobile Holdings. According to the anti-trust agency, Temasek’s cross-ownership has caused a price leadership in the telecommunications market. Both Temasek and ST Telemedia denied any wrongdoing and issued statements they would fight the decision. Simon Israel, Temasek’s executive director stated, “The charge against Temasek is groundless – Temasek has no shares in Indosat and Telkomsel, and we play no role in their business decisions and operations. Telkomsel is controlled by the Indonesian Government which also has a golden share in Indosat.”

   

Temasek plans to acquire Airtel stake for $2b

  • July 9th, 2007
  • 1:06 pm

The Singaporean government’s investment arm, Temasek Holdings, is likely to acquire a 4.9% stake in Indian mobile operator Bharti Airtel.

Given Bharti’s market capitalization of $40.51 billion, the deal could be worth $2 billion. 

A statement by Bharti, said one of its group companies “has decided to grant an option to acquire an indirect stake in Bharti Airtel to a wholly-owned subsidiary of Temasek Holdings.”

It refused to divulge the amount for which the offer had been made.

Temasek is the largest shareholder in SingTel, which owns 30.5% of New Delhi-based Bharti Airtel.
”If at any point of time Temasek wants to sell its stake, Bharti and (then) SingTel have the first right of refusal,’ a Bharti spokesperson said.
The stake sale will not result in an equity dilution, because Temasek is indirectly buying a large portion of the 5.6% stake that Vodafone is offloading.

When Vodafone struck a deal to pick up a controlling stake in rival Hutchison Essar in February, it said it would sell back its stake in Bharti for $1.6 billion in two tranches before November 2008.

Vodafone had bought the stake from Bharti in 2005. It still has indirect holdings of 4.4%.

 

 

   

Singapore eyes USD2b stake in Bharti Airtel

  • July 6th, 2007
  • 8:21 am

The Singaporean government investment arm Temasek Holdings is likely to acquire a 4.9% stake in Indian cellco Bharti Airtel. Given Bharti’s market capitalisation of INR1.63 trillion (USD40.51 billion), the deal could be worth USD2 billion. A statement by Bharti, one of its group companies ‘has decided to grant an option to acquire an indirect stake in Bharti Airtel to a wholly owned subsidiary of Temasek Holdings.’ It refused to divulge the amount for which the offer had been made.

Temasek is the largest shareholder in Singapore Telecom, which owns 30.5% of New Delhi-based Bharti Airtel. ‘If at any point of time Temasek wants to sell its stake, Bharti and [then] SingTel have the first right of refusal,’ a Bharti spokesperson said. The stake sale will not result in an equity dilution, because Temasek is indirectly buying a large portion of the 5.6% stake that Vodafone is offloading. When Vodafone struck a deal to pick up a controlling stake in rival cellco Hutchison Essar in February, it said it would sell back its stake in Bharti for USD1.6 billion in two tranches before November 2008. Vodafone had bought the stake from Bharti in 2005. It still has indirect holdings of 4.4%.

 

   
 

Temasek to acquire 5% stake in Bharti Airtel

  • July 5th, 2007
  • 11:03 am

The Singapore government’s investment arm, Temasek Holdings, will acquire an indirect stake of 4.99 percent in India’s Bharti Airtel. One of the group companies of Bharti Enterprises has decided to grant an option to acquire an indirect stake in Bharti Airtel to a wholly owned subsidiary of Temasek. Bharti Enterprises continues to maintain a controlling interest of over 45 percent in Bharti Airtel through its subsidiary Bharti Telecom. Bharti Airtel’s other major shareholder is SingTel, which along with Bharti Enterprises, will have first right of refusal on Temasek’s shares.