Singapore Technologies Telemedia looks set to take a stake in cash-strapped Malaysian cellco U Mobile.
The two companies will announce a “strategic partnership agreement” on Monday, according to a media invitation seen by Malaysia’s Business Times.
ST Telemedia is widely expected to become the latest foreign investor in U Mobile, whose earlier partners NTT DoCoMo and KTF exited last year.
Separately, ST Telemedia has announced a 10% stake in VNPT Global, the offshore arm of Vietnam’s VNPT Group. Financial terms were not disclosed.