It might divest its M1 stake.
Singapore's state-owned investment company Temasek Holdings Pte is reportedly discussing options for portfolio companies Keppel Corp. and Sembcorp Industries Ltd., ranging from divesting their non-core assets to selling shares, a report by Bloomberg said.
Temasek is said to be mulling the possibility of Keppel selling its 19.1 percent stake in wireless operator M1 Ltd. and paring its 44.6 percent interest in office landlord Keppel REIT, the people said, asking not to be identified as the information is private.
The Keppel holdings were worth S$1.6 billion ($1.1 billion) at Tuesday’s close, data compiled by Bloomberg show. M1 shares rose 4 percent, the most since November 2014, to S$2.33 at the close in Singapore on Tuesday.
Read the full report here.
Do you know more about this story? Contact us anonymously through this link.