Saturday, 7 October 2017

ADVANC's intention to acquire stake in Singtel

Did I read wrong?

"Advanced Info Service Public Company Limited (SET:ADVANC) signed a non-binding and conditional letter of intent to acquire 56.2% stake in Singapore Telecommunications Limited (SGX:Z74) from Singapore Telecommunications Limited (SGX:Z74) and DTV Service Company Limited for THB 2.6 billion on September 5, 2017. The shares will be acquired at a preliminary indicative price of THB 7.8 per share which is subject to further negotiations and/or due diligence. The transaction is subject to satisfaction in the due diligence result, approval from the Board of Directors and the approval from the shareholders of Advanced Info Service Public Company Limited, Thaicom Public Company Limited and Singapore Telecommunication Limited"
[Source: SGX]


2.6 billion (2600 millions) THB is only about SGD 106 millions.

I wonder how they came up and justify with such low figure in the letter of intent for acquisition. Or maybe there's some missing link here?
Baffled.

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