August 24, 2008 / 11:49 PM / 9 years ago

SingTel invests $99 mln in Singapore Computer Systems

SINGAPORE, Aug 25 (Reuters) - Singapore Telecommunications (STEL.SI) said on Monday it bought a 60 percent stake in Singapore Computer Systems SCSS.SI for S$140 million ($99 million) in cash as part of a drive to boost its IT business.

    SingTel, Southeast Asia’s largest telecoms group, said in a statement it acquired 93.1 million shares in Singapore Computer Systems from Green Dot Capital, a unit of state investment firm Temasek Holdings [TEM.UL], at S$1.50 each.

    The purchase price represents a 12 percent premium to the company’s closing share price of S$1.34 and the acquisition will trigger a mandatory offer for the remaining shares in the company at S$1.50 each. (Reporting by Jan Dahinten; Editing by Anshuman Daga)

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below