Temasek hints at cutting Shin Corp stake

16 Oct 2006

Singapore’s Temasek Holdings says it may reduce its stake in Thailand’s telecom giant Shin Corp in a bid to resolve a dispute over its alleged violations of Thai ownership rules. The Thai authorities plan to investigate whether the Singapore state-backed holding company’s takeover of Shin Corp, the telecom group set up by ousted premier Thaksin Shinawatra, broke any laws. The Shinawatra family sold its 49% holding in the company to Temasek for USD1.9 billion in a tax-free deal in January 2006. The move, however, sparked months of protests and claims of corruption which ultimately resulted in Thaksin Shinawatra being booted out in a bloodless coup on 19 September. Under Thai rules, foreign investors can own up to 49% of a telecom company, but questions remain over whether other local entities acted on Temasek’s behalf. Temasek now says it may reduce its holding in Shin Corp to 49% in a bid to settle the issue.



Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate



Filter CommsUpdate by the following categories or use the search.


Visit our help page information on performing advanced searches, including how to restrict the results by country or company.


CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.