Standard Chartered finally finds buyer, Thailand's Nava, for its securities unit

Article Abstract:

Standard Chartered Securities Ltd. has finally found a buyer two years after it was put in the auction block in 1994. Thailand's Nava Finance and Securities PLC agreed to acquire Standard Chartered Bank's Hong Kong-based securities unit, which conducts stockbroking activities in Hong Kong, China, Indonesia, Thailand, Malaysia, the UK and the US. Neither party disclosed how much the firm was bought but officials reveal that the price was a discount to net asset value.

Investment advice, Investment Advisory Services, Mergers, acquisitions and divestments, Securities industry, Investment advisers, Standard Chartered Securities Ltd., Nava Finance and Securities Company Ltd.

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Asia mobile-phone venture gets funding commitment

Article Abstract:

Asia Cellular Satellite System announced that it has arranged $420 million in funding for the company's planned satellite-based mobile telephone system. A joint venture between Philippine Long Distance Telephone Co., Pasifik Satelit Nusantara and Jasmine International PCL, Asia Cellular will use a single satellite to provide Asia-only service. It is one of three planned regional systems that will cover the region.

Radiotelephone communications, Cellular Mobile Radio Services, Cellular and Other Wireless Telecommunications, Finance, Cellular telephone services industry, Cellular telephone services, Telecommunications systems, Asia, Asia Cellular Satellite System

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