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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