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.
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Associated Press
an hour ago
- Associated Press
Vi and AST SpaceMobile Announce Partnership for Satellite Connectivity
MUMBAI, India & MIDLAND, Texas--(BUSINESS WIRE)--Jun 18, 2025-- Vi (Vodafone Idea), India's leading telecom service provider, and AST SpaceMobile, Inc. ('AST SpaceMobile') (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, designed for both commercial and government applications, today announced a strategic partnership to expand mobile connectivity across India's unconnected regions. AST SpaceMobile made history by placing the first ever voice and video calls from space using standard mobile phone, a milestone that demonstrates the real-world viability of its advanced technology. This press release features multimedia. View the full release here: AST SpaceMobile and Vodafone Idea Announce Partnership for Satellite Connectivity in India India is one of the world's largest and most dynamic telecom markets, with over 1.1 billion mobile subscribers. While there is widespread 4G and emerging 5G coverage, satellite communication will complement terrestrial connectivity to further expand broadband cellular access in some challenging terrains where deployment of terrestrial mobile infrastructure might be difficult. This partnership will bring together Vi's robust national network with AST SpaceMobile's revolutionary space-based cellular technology, which connects directly to everyday smartphones without the need of any specialized software or device support or updates. Aligned with Digital India's initiatives, AST SpaceMobile and Vodafone Idea will collaborate on the SpaceMobile Satellite System. This space-based cellular broadband ecosystem will be designed to expand Vi's telecom services of terrestrial connectivity, providing voice, video, data streaming, and internet access. It will encompass the design, implementation, and launch of this system, wherein AST SpaceMobile will develop, manufacture, and manage the satellite constellation, and Vi will oversee terrestrial network integration, operating spectrum, and market access. 'Vi has always been committed to leveraging technology to connect every Indian and we see satellite communication as a complement to terrestrial connectivity. As satellite-based mobile access becomes a reality in India, we are looking forward to ushering in a new era of seamless and resilient connectivity,' said Avneesh Khosla Chief Marketing Officer. 'India, with its vast and dynamic telecom market, is the ideal place to demonstrate how our space-based cellular broadband can seamlessly complement terrestrial networks,' said Chris Ivory, Chief Commercial Officer, AST SpaceMobile. 'We are not just expanding coverage; we are breaking down barriers to connectivity, enabling everyday smartphones to access 4G and 5G directly from space. Together with Vodafone Idea, we are excited to unlock new possibilities for emergency response, disaster management, agriculture, remote learning, and countless other applications that will benefit from truly ubiquitous mobile broadband.' This collaboration puts India at the forefront of global space tech innovation and will push development of use cases and applications for connectivity. Together, Vi and AST SpaceMobile will also collaborate to develop commercial offerings for diverse sectors, including consumer, enterprise and IoT. About Vodafone Idea Ltd. Vodafone Idea Limited is an Aditya Birla Group and Vodafone Group partnership. It is amongst India's leading telecom service providers. The company holds a large spectrum portfolio including mid band 5G spectrum in 17 circles and mmWave spectrum in 16 circles. The Company provides Voice and Data services across 2G, 4G and 5G platforms and is expanding 5G services across 17 circles. To support the growing demand for data and voice, the Company is committed to delivering delightful customer experiences and contributing towards creating a truly 'Digital India' by enabling millions of citizens to connect and build a better tomorrow. The Company is developing infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings, conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence. The Company's equity shares are listed on National Stock Exchange (NSE) and the BSE in India. About AST SpaceMobile AST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on our extensive IP and patent portfolio, and designed for both commercial and government applications. Our engineers and space scientists are on a mission to eliminate the connectivity gaps faced by today's five billion mobile subscribers and finally bring broadband to the billions who remain unconnected. For more information, follow AST SpaceMobile on YouTube, X (Formerly Twitter), LinkedIn and Facebook. Watch this video for an overview of the SpaceMobile mission. Forward-Looking Statements This communication contains 'forward-looking statements' that are not historical facts, and involve risks and uncertainties that could cause actual results of AST SpaceMobile to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words 'believes,' 'estimates,' 'anticipates,' 'expects,' 'intends,' 'plans,' 'may,' 'will,' 'would,' 'potential,' 'projects,' 'predicts,' 'continue,' or 'should,' or, in each case, their negative or other variations or comparable terminology. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside AST SpaceMobile's control and are difficult to predict. Factors that could cause such differences include, but are not limited to: (i) expectations regarding AST SpaceMobile's strategies and future financial performance, including AST's future business plans or objectives, expected functionality of the SpaceMobile Service, anticipated timing of the launch of the Block 2 BlueBird satellites, anticipated demand and acceptance of mobile satellite services, prospective performance and commercial opportunities and competitors, the timing of obtaining regulatory approvals, ability to finance its research and development activities, commercial partnership acquisition and retention, products and services, pricing, marketing plans, operating expenses, market trends, revenues, liquidity, cash flows and uses of cash, capital expenditures, and AST SpaceMobile's ability to invest in growth initiatives; (ii) the negotiation of definitive agreements with mobile network operators relating to the SpaceMobile Service that would supersede preliminary agreements and memoranda of understanding and the ability to enter into commercial agreements with other parties or government entities; (iii) the ability of AST SpaceMobile to grow and manage growth profitably and retain its key employees and AST SpaceMobile's responses to actions of its competitors and its ability to effectively compete; (iv) changes in applicable laws or regulations; (v) the possibility that AST SpaceMobile may be adversely affected by other economic, business, and/or competitive factors; (vi) the outcome of any legal proceedings that may be instituted against AST SpaceMobile; and (vii) other risks and uncertainties indicated in the Company's filings with the Securities and Exchange Commission (SEC), including those in the Risk Factors section of AST SpaceMobile's Form 10-K filed with the SEC on March 3, 2025. AST SpaceMobile cautions that the foregoing list of factors is not exclusive. AST SpaceMobile cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors in AST SpaceMobile's Form 10-K filed with the SEC on March 3, 2025. AST SpaceMobile's securities filings can be accessed on the EDGAR section of the SEC's website at Except as expressly required by applicable securities law, AST SpaceMobile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. View source version on CONTACT: Investor Contact:Scott Wisniewski [email protected] Contact:Allison Eva Murphy Ryan 917-547-7289 [email protected] KEYWORD: UNITED STATES INDIA NORTH AMERICA ASIA PACIFIC TEXAS INDUSTRY KEYWORD: TECHNOLOGY MOBILE/WIRELESS PUBLIC RELATIONS/INVESTOR RELATIONS 5G SATELLITE TELECOMMUNICATIONS AEROSPACE COMMUNICATIONS MANUFACTURING SOURCE: AST SpaceMobile, Inc. Copyright Business Wire 2025. PUB: 06/18/2025 06:15 AM/DISC: 06/18/2025 06:13 AM
Associated Press
an hour ago
- Associated Press
Prudential announces $880,000 community investment to celebrate SG60 and its move to Labrador Tower
The investment includes household essentials hampers for over 1,100 ComLink+ families, a cash donation to the Prudential Longevity Pledge, and community edible gardens SINGAPORE - Media OutReach Newswire - 18 June 2025 - Prudential Singapore ('Prudential') has unveiled a special $880,000 SG60 community investment to celebrate Singapore's 60th birthday and its office move to Labrador Tower. From left to right: Eugene Tay, Senior Assistant Director, Sustainability Partnerships Office, Ministry of Sustainability and the Environment; Chan San San, CEO, Prudential Singapore; Joel Tan, CEO, KidSTART Singapore; Anil Wadhwani, CEO, Prudential plc; Jack Lim, Managing Director, Community Chest; Elizabeth Aw, Second General Manager, Social Service Office @ Kreta Ayer and Bukit Merah, Ministry of Social and Family Development. They were at an event to celebrate Prudential's move to its new office at Labrador Tower. During the event, Prudential also announced a $880,000 community investment which includes household essentials hampers for over 1,100 ComLink+ families residing in the vicinity of Prudential's new office at Labrador Tower, a cash donation to the Prudential Longevity Pledge, and the establishment of community edible gardens later this year. Aligned with the SG60 theme of 'Building Our Singapore Together', Prudential's community initiatives focus on uplifting and connecting Singapore residents to build a resilient and inclusive society for generations to come. They include household essentials hampers for over 1,100 ComLink+ families residing in the vicinity of Prudential's new office at Labrador Tower. In addition, the company will make a donation to the Prudential Longevity Pledge to further support KidSTART families through an ongoing fresh food produce programme, as well as establish community edible gardens later this year to nurture community bonds. Ms Chan San San, CEO of Prudential Singapore, said: 'With over 90 years of history in Singapore, Prudential has a deep connection with the country and its people. As Singapore marks its 60th year of independence and Prudential moves to its new office at Labrador Tower, we want to celebrate by investing in the wellbeing of our community.' Bringing corporate and agency teams under one roof at Labrador Tower In May 2025, Prudential completed its move to Labrador Tower, occupying a floor area of over 170,000 square feet in total. The extensive space houses both its corporate office which spans two and a half floors, and its agency offices which occupy five floors. The insurer has also incorporated an additional shared floor into the layout where corporate and agency teams can interact more easily. This will strengthen the synergy between Prudential's 1,200-strong corporate employees and 5,400-strong financial representatives in its agency. Ms Chan said: 'The move to Labrador Tower strategically unites our corporate and agency teams under one roof. We anticipate that the shared spaces and increased interactions will foster deeper collaboration, facilitate greater knowledge exchanges, and promote a more seamless approach to serving our customers.' Prudential's existing distribution channels also include strategic bancassurance partners, United Overseas Bank (UOB) and Standard Chartered. This year marks the 15th anniversary of working with UOB, while 2024 was the 25th anniversary with Standard Chartered. Together with Prudential's tied agency and financial advisory arm, Prudential Financial Advisers Singapore, they serve the financial needs of more than one million customers. Prudential's new office supports hybrid work with a variety of spaces to cater to different work requirements and greater collaboration between corporate and agency teams. These include libraries for focused tasks, different types of meeting areas for both informal and formal discussions, and convenient phone booths to take calls. Combined with Prudential's flexible work arrangements, the new office encourages both planned and spontaneous interactions to support knowledge sharing, enabling the corporate and agency teams to work together more effectively to better meet customers' needs. For more information on Prudential's $880,000 community investment, please refer to Annex A. Annex A - Prudential's SG60 community investment The $880,000 community investment comprises: Prudential volunteers will be packing and distributing household essentials hampers to over 1,100 ComLink+ families residing in the vicinity of Prudential's new office at Labrador Tower. Items in the hamper include household essentials such as hand soap and dishwashing liquid to support families in maintaining their wellbeing through access to essential personal hygiene and household cleaning items for a clean and healthy home environment. The SG60 community investment includes a cash donation to the Prudential Longevity Pledge, a fundraising programme established in partnership with Community Chest in 2021 to provide support to vulnerable groups in the community. This collaboration ensures sustained financial support, and is bolstered by Prudential's annual contributions. The SG60 cash donation will go towards supporting KidSTART Singapore ('KidSTART') families through its community programme, Healthy with KidSTART, which was launched in 2020 as a collaboration between Prudential and KidSTART. Aimed at promoting healthy eating habits among children aged 0-6 years old, Prudential contributes by funding the packing and delivery of monthly fresh produce packs to families, holding interactive and educational events, and producing resources such as live online cooking shows and recipe cards with tips on how to engage young children in the kitchen during meal preparation. Prudential[1] and KidSTART volunteers have clocked almost 20,000 volunteering hours since the inception of the programme, packing and delivering the fresh produce packs at least three times a year to benefit more than 3,000 KidSTART families. To foster community resilience for a more sustainable future, Prudential will be launching a new initiative called Heathy Harvest later this year. With this initiative, the company aims to drive environmental responsibility and enhance wellbeing by setting up community edible gardens. These gardens will serve as social and therapeutic green spaces that enable connection with nature, encourage sustainable gardening activities and promote healthy eating through the distribution of fresh produce grown at the gardens. More details on the community gardens will be shared at a later date. [1] Prudential volunteers comprise Prudential employees, agency force, partners, and friends and family. Hashtag: #Prudential The issuer is solely responsible for the content of this announcement. About Prudential Assurance Company Singapore (Pte) Ltd (Prudential Singapore) Prudential Assurance Company Singapore (Pte) Ltd is one of the top life and health insurance companies in Singapore, serving the financial and protection needs of the country's citizens for 94 years. The company has an AA- Financial Strength Rating from leading credit rating agency Standard & Poor's, with S$57.7 billion funds under management as at 31 December 2024. It delivers a suite of well-rounded product offerings in Protection, Savings and Investment through multiple distribution channels including a network of more than 5,400 financial representatives. About ComLink+ ComLink+ aims to uplift lower-income families with children towards stability, self-reliance and social mobility (3S). These lower-income families face additional challenges and often have to stretch limited resources to meet various needs. Through ComLink+, MSF partners and supports families over the longer term as they work towards achieving their aspirations and goals. Under ComLink+: here
Yahoo
an hour ago
- Yahoo
Singapore lender DBS aims to double Australian lending book in 5 years
By Scott Murdoch SYDNEY (Reuters) -DBS Group aims to double its Australian lending book in the next five years, its CEO Tan Su Shan said, as the Singapore-headquartered bank seeks to take advantage of trade links between Australia and Southeast Asia. The bank said on Wednesday it had signed a pact with trade agency Austrade which will help it facilitate and finance more trade and investment between Australian and Southeast Asian businesses, especially from Singapore, Indonesia, Malaysia and Vietnam. Tan said that DBS's Australian lending book was currently worth about A$11 billion ($7.16 billion) which, she said, could double to A$20 billion in the next five years. "Australian companies have been more domestic-centric. We are trying to change that narrative," Tan said at a press conference on Tuesday. Referring to its Australian client AirTrunk, a data centre operator that was bought by a Blackstone-led consortium for A$24 billion last year, Tan said the company was one of the first few to invest in data centers outside of Australia. "We'd love to rinse and repeat that with the other big Australian companies," she said. DBS posted in May better-than-expected quarterly results, boosted by wealth management fees that jumped 35% on-year to a record quarterly high of S$724 million ($563.73 million), which the bank attributed to strong market sentiment. Assets under management at the bank, Southeast Asia's biggest, climbed 13% to a record high of S$432 billion in the first quarter. Tan said while the dollar and U.S. Treasury's safe-haven status was not yet being threatened, some of the bank's clients had started to diversify away from dollar-linked investments, which has benefited Japan, among others. "You've seen also a lot more interest in the euro and the yen. The yen has strengthened as well. So we see people now looking at where do I invest in yen?," she said. ($1 = 1.2843 Singapore dollars) ($1 = 1.5366 Australian dollars) 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
