STT moves on U Mobile, VNPT

Nicole McCormick
12 Mar 2010
Daily News

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.

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