PCCW & C&W sell M1 stake

18 Aug 2005

PCCW and Cable & Wireless, owners of Great Eastern Telecommunications, have agreed to sell a combined 12.06% stake in Singaporean cellco MobileOne (M1) for USD157.1 million to Sunshare Investments, a joint venture owned by Telekom Malaysia’s TM International and Khazanah Nasional, the investment holding arm of the Malaysian government. PCCW will use the funds from the sale to invest in its new domestic wireless operation, Sunday, which it acquired last month.