Tuesday, March 16, 2010

Ahem! Cough! Cough! Splutter

Dr M's U-turn as STT buys into U Mobile
Ex-PM who nixed previous telco deals sings a new tune


SINGAPORE Technologies Telemedia (ST Telemedia or STT) has entered into definitive agreements to acquire 33 per cent of Malaysia's smallest mobile phone operator, U Mobile Sdn Bhd, for more than RM1 billion (S$421 million) including its portion in a proposed rights issue.

Getting ST Telemedia to replace U Mobile's former partners NTT DoCoMo and KT Freetel is seen as a major coup for its controlling shareholder Vincent Tan Chee Yioun, one made all the sweeter because of the support of former prime minister Mahathir Mohamad - the man who scuppered a similar proposal between Singapore Telecommunications (SingTel) and the then politically connected Time dotcom in 2000 on grounds of 'national security'.

There were concerns that SingTel might 'sing and tell', he famously quipped of the Temasek Holdings subsidiary, but only half in jest. ST Telemedia is also owned by Temasek, but is unlisted.
Whether he had changed his views over the past decade, regretted the missed opportunity which left Time dotcom floundering for years, or merely feels it is time to move on, Dr Mahathir gamely witnessed the signing via video conference from London.

Perhaps Mr Tan's close association with him also factored in the equation. 


What is there to comment? Dulu puas2 nak kutuk orang, kononya menjual kedaulataan negara. 
Dia orang dah soun dah.... 

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