CEO Chua Sock Koong: "The outcome of the review is that it would create the most value if we continue to keep ... and to invest in the business."
The company wanted more than $1.8B for the unit. Intelsat (I -2%) and a consortium made up of Blackstone, TPG Capital, and Mayalysia's MEASAT Global reportedly submitted bids last week. A source states the consortium was not willing to make an offer above $1.7B.
UOB Kay-Hian analyst Jonathan Koh: "SingTel’s management, they feel that it’s a strong and attractive business ... The margins are very high but the direct synergies are very minimal."