Singapore Telecom rumored to be in talks of acquiring SmarTone

Previously Sun Hung Kai Properties (0016) was rumored to acquire 20% stake in SmarTone Telecommunications (0315) from British Telecom, while the company rejected relevant scheme, not only because of to-be-involved complicated problems on acquisition but also for not leaving fund circle a impression that SmarTone Telecommunications can not get proper buyers.

 According to information from stocks market, Singapore Telecom keeps strong interest in developing Hong Kong telecom business and will dispatch key person to Hong Kong to conduct financial audit on SmarTone Telecommunications in mid-May.

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