Temasek is not selling its stakes: Shin Corp

Shin Corp Executive Chairman Somprasong Boonyachai clarified Temasek's stakes in the telecoms group and satellite unit Thaicom are not up for sale.

Speculation about the sale emerged following a court ruling last month that former Thai premier Thaksin Shinawatra had concealed ownership of shares in Shin Corp and tailored government policies to benefit Shin, according to a Reuters report.

Temasek indirectly owns 96.11 percent of Shin Corp, which was founded by Thaksin.

"There's no such issue," said Somprasong about the alleged sale valued at around $2.5 billion.

View full report in Reuters.

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