Cedar set to sell stake in InTouch | Bangkok Post: business

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Cedar set to sell stake in InTouch

Telecom group hails Singapore unit's move

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Cedar Holdings, a unit of Singapore's state investment firm Temasek Holdings, looks set to sell its entire shareholding in InTouch Plc (INTUCH) next year, says the head of Thailand's largest telecommunications conglomerate. 

The prediction is based on speculation that InTouch's shares are rising to satisfactory profit levels, said Somprasong Boonyachai, a director and executive committee chairman at InTouch.

Cedar has sold 330 million InTouch shares or 10.3% of the total, InTouch said in a statement to the Stock Exchange of Thailand (SET) yesterday.

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