03.02.2015 - GIC & Temasek among funds in race to pick stake in merged British telcos
Singapore’s sovereign wealth fund GIC and its state investment arm Temasek Holdings are among the leading global funds that are that are in the race to pick up to 30% stake in the merged British mobile phone giants – 02 and Three – a report said. Telefonica that owns O2 and Three’s owner, Hutchison Whampoa, controlled by the Hong Kong tycoon Li Ka-shing, recently unveiled plans to merge the two entities. As per the contours of the deal, Hutchison Whampoa will pay £9.25 billion in cash for Three , with an additional £1bn in deferred payments when the combined business hits certain cash flow targets...............................................Full Article: Source
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