TIME dotCom lowers stake in DiGi

16 Jan 2009

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.

Malaysia, Digi Telecommunications, TIME dotCom