TIME dotCom lowers stake in DiGi

TIME dotCom (TdC) has divested 22.5 million shares in Malaysian cellco DiGi Telecommunications in a bid to reduce its borrowings. The stake, which was disposed of by TdC subsidiary Hakikat Pasti, was sold for MYR463.5 million (USD129.2 million). As a result of the transaction TdC’s shareholding in DiGi has reduced from 10% to 7.1%. According to TeleGeography’s GlobalComms database, TdC’s stake in DiGi was increased in May 2008 as part of an agreement that saw it transfer its 3G licence and spectrum to DiGi.