Interesting news today that Singapore’s sovereign wealth fund has offloaded shares in Shin Corp, its major Thai asset, at a substantial loss. Temasek Holdings sold around 8% of Shin Corp for 36 baht a share, yielding $308 million, a substantial discount to the market price, according to Reuters.
Temasek may have decided to cut its losses as Thailand’s telecoms sector is hopelessly tangled in political and regulatory battles that have delayed the introduction of 3G, even as other Asian countries embrace 4G. Full story
