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Singapore Telecommunications Limited (Z77.SI)
- Reuters SG
Deals of the day-Mergers and acquisitions
** Five9 Inc shareholders voted down the call center software firm's $14.7 billion sale to Zoom Video Communications Inc, a major blow to Zoom's plan to expand its offerings following its pandemic boom. ** Global technology firm Foxconn will buy an assembly plant owned by U.S. electric vehicle startup Lordstown Motors Corp for $230 million and take over production of a new pickup truck, the companies said. ** Coty Inc said it would swap around 9% of its stake in professional beauty business Wella with KKR & Co Inc for some of the cosmetic maker's shares the U.S. buyout firm owns, valuing the deal at $426.5 million.
- Reuters SG
Singtel divests Australian tower network to AustralianSuper for $1.4 bln
Singapore Telecommunications has divested a 70% stake in its Australian tower network to superannuation fund AustralianSuper for A$1.9 billion ($1.37 billion), and said it will use the proceeds to fund a 5G rollout and for data centres. The deal involves the sale of 2,312 mobile network towers and rooftop sites, and values the Australia Tower Network at an enterprise value of A$2.3 billion, Singtel said in a statement on Friday. With the COVID-19 pandemic boosting demand for data centres, Singtel will be forming a regional data centre platform with an initial focus on countries in the Association of Southeast Asian Nations (ASEAN), the statement said.
Yahoo Finance SingaporeStarHub to acquire 50.1% stake in MyRepublic's broadband business
StarHub plans to acquire a majority 50.1 per cent stake in MyRepublic's broadband business in Singapore to strengthen its position in the market.
