Telekom raises Celcom stake

20 Jun 2003

Telekom Malaysia this morning announced that it has raised its stake in fellow Malaysian service provider Celcom to 96.3%. By law Telekom is now required to acquire the remaining shares in its rival, before de-listing Celcom from the Kuala Lumpur Stock Exchange. Celcom will then become a wholly owned subsidiary of Telekom but will continue to operate with an independent management team.