TradingMarkets.com
10th Feb 2008
SINGAPORE, Feb 11, 2008 (Thomson Financial via COMTEX) -- SHNYF | news | PowerRating | PR Charts -- Singapore state-linked investment company Temasek Holdings is seeking to cut its stake in Thai conglomerate Shin Corp in a bid to comply with the 49 percent foreign shareholding limit imposed by Thailand on the telecommunications industry, the Business Times reported, citing Thai media reports.
Temasek bought 49.6 percent of Shin Corp from the family of ousted Thai Prime Minister Thaksin Shinawatra in January 2006 , but its stake later rose to 96.12 percent as it had to make a mandatory takeover offer for the rest of Shin Corp.
Shin Corp holds majority stakes in Thailand's largest cellphone company, Advanced Info Service, and Shin Satellite.
A potential buyer of some of Temasek's stake in Shin Corp is the Charoen family, controlling shareholder of Singapore-listed Thai Beverage, the Business Times said, citing a report in the Thai Rath newspaper.
http://www.tradingmarkets.com/.site/news/Stock%20News/1085321/
