Telekom Malaysia ups stake in Excelcomindo to roughly 67%

20 Apr 2007

Telekom Malaysia, through its indirectly owned subsidiary TM International, has agreed to acquire an additional 7.4% stake in Indonesian mobile operator Excelcomindo from AIF Indonesia. According to a report from FactSet Mergerstat, TM International will pay USD113 million in cash for the equity interest which, on completion, will raise the TM group’s holding in the publicly-listed Indonesian company to nearly 67%.

Indonesia, Telekom Malaysia, XL Axiata