DESPITE THE POLITICAL jitters that have recently haunted leading telecommunications player PLDT—and notwithstanding concerns that the telco sector has entered its sunset phase—Singapore Technologies Telemedia (STT) of the island’s sovereign wealth fund, Temasek, is on the prowl for opportunities in the Philippines.STT was recently forced to sell out of Indonesia’s second largest mobile phone firm, PT Indosat, due to anti-trust restrictions (it also controls the country’s largest wireless player PT Telkomsel). Now, STT has $1.8 billion in extra cash that it’s itching to put into something.
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