| GIC is one of five institutional investors to take a 33 per cent stake in the combined business of Three and O2 UK for £3.1 billion from parent company Hutchison Whampoa, the Republic's sovereign wealth fund said on Friday (May 8).
GIC will invest £1.1 billion (S$2.3 billion), but this is conditional on and will occur concurrently with the completion of Three UK's acquisition of O2 UK and the combination of both businesses, which are subject to European Union regulatory approvals, it said in its press release. The full proceeds of the investments will be used, together with a committed bank facility of £6 billion, to fund the O2 UK acquisition from Telefonica...............................................Full Article: Source
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