Telekom Malaysia increases effective stakes in Excelcomindo and MobileOne

8 Feb 2008

Telekom Malaysia™ has agreed to buy 16.8% of Excelcomindo for MYR1.4 billion (USD442.7 million), raising its stake in Indonesia’s third largest cellco by subscribers to 83.8%. The telco is acquiring the stake from its own parent, Malaysia’s state investment agency Khazanah Nasional.

In separate but related news, TM’s mobile arm, TM International, has agreed to buy the remaining 49% interest in SunShare Investments that it does not already own from Khazanah for MYR155 million. SunShare holds a 29.7% stake in Singapore’s third largest wireless operator by subscribers, MobileOne

Indonesia, Singapore, M1 Limited (M1), Telekom Malaysia, XL Axiata