Telekom Malaysia raises stake in Excelcomindo
State-controlled Telekom Malaysia has agreed to buy 16.8% of PT Excelcomindo Pratama for 1.43 billion ringgit ($442.7 million), raising its stake in the nation's third-largest mobile phone operator to 83.8%, Telekom said on Wednesday (6/2/08) Reuters reported.
Telekom, through its unit Indocel, is buying the stake in Excelcomindo from its own parent, Malaysia's state investment agency Khazanah Nasional.
Khazanah has a 36.1% stake in Telekom, Malaysia's largest fixed-line operator.
Telekom, through its unit Indocel, is buying the stake in Excelcomindo from its own parent, Malaysia's state investment agency Khazanah Nasional.
Khazanah has a 36.1% stake in Telekom, Malaysia's largest fixed-line operator.