Temasek Firm’s Deal Values Malaysia 5G Winner at $1.7 Billion

A Temasek Holdings Pte firm’s stake sale agreement values U Mobile Sdn. at about 7.5 billion ringgit ($1.7 billion), according to people familiar with the matter, after the Malaysian phone company won a major 5G contract.

Straits Mobile Investments Pte, a subsidiary of Singapore Technologies Telemedia Pte, which is wholly owned by Singapore state investor Temasek, is cutting its holdings after Prime Minister Anwar Ibrahim’s government picked U Mobile last month to build Malaysia’s second 5G network.