SINGAPORE, March 15 (NNN-CNA) — Singapore Technologies Telemedia (ST Telemedia) will acquire a 33 percent stake in Malaysian 3G operator U Mobile, the two companies said in a joint statement Monday.

A spokeswoman for ST Telemedia, which is 100 percent owned by investment firm Temasek Holdings, said the company was paying 625 million ringgit (189 million US) for the 33 percent stake in U Mobile.

ST Telemedia is buying the stake from U Television, the major shareholder in U Mobile. It signed the investment agreement with U Television in Kuala Lumpur Monday.

Last week, ST Telemedia announced it was buying a 10 percent stake in VNPT Global, a subsidiary of Vietnam public telecommunications group VNPT.

ST Telemedia, which is unlisted, describes itself as a telecommunications group that invests in and manages information-communications companies across the globe.

Its stable of firms includes telecom investment house Asia Mobile Holdings and US-based Global Crossing. — NNN- CNA

• SATELLITE IMAGES TO BE USED IN MAPPING FORESTS IN FIJI
• THAI ARMY CHIEF ORDERS HIGH ALERT AGAINST ILLEGAL ACTS ALONG BORDER
• MALAYSIA RECORDS HIGHEST TOTAL TRADE OF RM1.3 TRILLION LAST YEAR
• PARAGUAY'S VICE PRESIDENT & WIFE DOWN WITH DENGUE
• HANTAVIRUS ALERT IN CHILE AFTER THREE DEATHS & TEN INFECTED