Cable and Wireless CW and PCCW have announced that they have divested their 12.1% stake in Singapore's MobileOne to Malaysia's TM International TMI and Khazanah Nasional. The deal is expected to cost the consortium $157.1 million and is the latest acquisition by a Malaysian government-controlled entity in Singapore.
The MobileOne stake was owned through CW's subsidiary Great Eastern Telecommunications Limited GET, its joint venture with Hong Kong's PCCW. Upon completing the transaction, the UK telecommunications company will receive $87.1 million from the sale. PCCW will pick up $77 million due to its smaller stake in GET. JPMorgan advised the sellers and UBS advised...
