KKR, GIC Are Among Final Bidders for MasOrange, Zegona Joint Venture
KKR & Co. and GIC Pte. are among the final bidders for a stake in a fiber-optic broadband network venture owned by MasOrange and Zegona Communications Plc, according to people familiar with the matter.
The two funds are among the suitors that have entered a second round of the process to buy a 40% stake in the joint venture, the people said, asking not to be identified because the matter is private. A final decision on a sale hasn't been made and MasOrange and Zegona could still decide not to go ahead with one.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
an hour ago
- Bloomberg
China's Baidu Eyes Robotaxi Expansion to Singapore and Malaysia
Baidu Inc. is planning to launch its Apollo Go robotaxi service in Singapore and Malaysia as early as this year, according to a person familiar with the matter, as the company continues to expand its global footprint. Apollo Go is in discussions with potential partners to explore the right business models for the two markets, said the person, who asked not to be identified discussing private matters. Baidu Chief Executive Officer Robin Li has previously said the company was seeking partners such as mobility service providers, local taxi companies and third-party fleet operators for an asset-light approach.
Yahoo
an hour ago
- Yahoo
Resurgent air travel and a strategic acquisition helped SATS climb over 100 places in the Southeast Asia 500
Airlines the world over are reporting a surge in business as tourists go traveling again. Carriers earned a total net profit of $32.4 billion last year, up 18% from the year before, while passenger numbers hit a new high of 4.8 billion. In Southeast Asia, airlines like VietJet, Thai Airways, and Garuda Indonesia posted double-digit revenue growth last year. But the most impressive performance came not from a carrier, but rather a company that keeps its feet on the ground. Singapore's SATS, which provides an array of services including food preparation, air cargo handling and passenger services, tripled its revenue in 2024, lifting the company to No. 93, a jump of 134 places, on this year's Southeast Asia 500. SATS's 2024 revenue now stands at $3.8 billion. SATS was the biggest climber on this year's list, not including newcomers. Much of SATS's revenue growth comes after its completed acquisition of Worldwide Flight Services (WFS), a global air cargo logistics provider. SATS bought the company for 1.3 billion euros ($1.5 billion at current exchange rates) in a deal announced in early 2023. SATS's acquisition of WFS now makes the Asia-centric company much more of an international player. WFS is the world's largest cargo handling firm, and is a major player in both Europe and the Americas. A combined SATS-WFS has a combined reach of more than 215 locations worldwide, covering trade routes responsible for more than half of global air cargo volume. SATS's history stems back to the early days of commercial aviation in Singapore, starting as the ground division for Malayan Airlines. That airline later split into Singapore Airlines (SIA) and Malaysian Airline Systems. SIA then established its ground handling business as a separate business in 1972. Now, SATS is the main air cargo, ground handling and inflight-catering services provider for Singapore's largest civilian international airport, Changi Airport. SATS has since expanded its footprint throughout Asia, forming joint ventures in markets like mainland China, Taiwan, Hong Kong, the Philippines, and Indonesia. In its most recent financial report for the quarter ending March 2025, SATS reported a 13% jump in revenue year-on-year to reach 5.8 billion Singapore dollars ($4.53 billion at current exchange rates), driven by a growth in business volume and revenue contributions from its expanded network. 'Our cargo volumes have consistently outperformed IATA's global growth benchmarks, demonstrating our ability to leverage our expanded network to secure new contracts,' SATS said in its annual report. The company aims to hit 8 billion Singapore dollars ($6.2 billion) in revenue by the end of its 2029 fiscal year, thanks to a larger network, growth in Asia-Pacific passenger volumes, and Singapore's role as an aviation hub. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
an hour ago
- Bloomberg
Societe Generale's Benzimra on Outlook for Asian Stocks
Societe Generale's Frank Benzimra shares his views on the South Korean, Chinese and Southeast Asian stock markets. He says the firm is looking at the China consumption story, and adds that it's neutral on India and underweight Indonesia, Malaysia and Thailand. Benzimra speaks on Bloomberg Television. (Source: Bloomberg)
