TdC sells 3.6% stake in

27 Aug 2009

Malaysia’s Time dotCom (TdC) has announced the sale of a 3.6% stake in holding company, which itself wholly owns mobile network operator DiGi Telecommunications, Reuters reports. TdC divested its stake for MYR604.95 million (USD171.7 million), reducing its holding the company from 7.1% to 3.5%. TdC said it would use the funds raised from the sale to repay some of its debts.

According to TeleGeography’s GlobalComms database, is 49% owned by Norwegian telecoms group Telenor.

Malaysia, Digi Telecommunications, TIME dotCom