Temasek's unit ST Telemedia buys 10% stake in VNPT Global

The investment company is "now ready to jointly explore telecommunications opportunities on the world stage" with the Vietnamese firm.

ST Telemedia’s President & CEO, Mr Lee Theng Kiat, was presented with the Investment Certificate by VNPT Global Chairman, Mr Lam Hoang Vinh, at a ceremony in Hanoi following the signing of their Share Subscription Agreement in January 2010.

"We believe that ST Telemedia is the right strategic partner to effectively contribute toward the further development of VNPT Global’s international business activities, one of the focuses of VNPT in the coming years. ST Telemedia has nearly 20 years of investment and operating experience throughout the world in the field of telecommunications. Its ownership in a number of international telecom operators will be a bridge for VNPT Global to approach and expand its markets in Asia Pacific and other emerging markets as well," said Mr. Lam Hoang Vinh, who's also the Executive Vice President of VNPT Group.

Meanwhile ST Telemedia’s President & CEO, Mr Lee Theng Kiat, commented, “The new partnership not only reaffirms ST Telemedia’s commitment to investing in Vietnam, but also underscores the strength of our long term relationship with VNPT. I’m confident that the complementary strength and resources of all shareholders of VNPT Global will provide the company with unparalleled capabilities to pursue broad and diverse business opportunities in the global telecom landscape."

VNPT Global is the global telecommunication subsidiary of VNPT Group, Vietnam’s foremost full service telecommunications service operator.