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Singapore’s STT to invest in 33% stake in U Mobile
Posted on March 16th, 2010 2 comments
Struggling 3G Telco, U Mobile has finally gotten into the news again with the announcement of Singapore’s Technology Telemedia to invest 33% stake in the company. U Mobile is majority owned by UTV – U Television Sdn Bhd with Tan Sri Vincent Tan as chairman. The total investment is said to be worth over RM1 billion.After its bad experience with the Koreans & Japanese, Tan Sri Vincent Tan has clarified that the deal with STT is different from KT Freetel and NTT Docomo. STT does not have an sell-back option if the deal doesn’t go well as planned which was obviously practised by its former strategic partners. The big man said it in his own words, jokingly: “Once bitten, forever shy.”
With this new investment, it will definitely give hope to U Mobile to gain some grounds in the telco industry. In terms of dealers, they have already made in roads nationwide and to date they have captured about 4% of the telco market. What they need now are exciting products and services to stay relevant as the 4th 3G operator in Malaysia.
They have a lot of catching up to do and we look forward for a come back.
[ SOURCE ]
Related Links
U Mobile Press Release
U Mobile to sign deal with STT
Players in the Field, U Mobile STT, U Mobile Investor, U Mobile New Investment, U Mobile Singapore Stakeholder2 responses to “Singapore’s STT to invest in 33% stake in U Mobile”
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Slicker March 20th, 2010 at 10:52
I hope the new management will turn things around. The previous management has destroyed U Mobile key unique features. Mobile Live TV & per second billing have ceased to exist.
The only thing U Mobile is left now is cheaper mobile broadband rates but it is only limited to KL and Penang.
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[...] the news of U Mobile’s possible new Singaporean stakeholder, we believe that U Mobile could be making a come back this year. We’re keeping our fingers [...]
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