Goldman Sachs and Merrill Lynch have won bake-offs to lead the transaction, which is provisionally being scheduled for launch in the autumn. Five banks that made the shortlist became four last week when Morgan Stanley Dean Witter decided not to attend bake-offs, leaving Credit Suisse First Boston and UBS Warburg as the two also-rans.
The appointment of the two US investment banks comes as no surprise, however, since both are considered the respective house banks of FarEasTone's two major shareholders, Far Eastern Textiles Goldman and ATT Wireless Merrills.
FarEasTone is planning to use proceeds from the deal to fund its...
