P1 stake sale generates interest from a number of parties

Malaysian WiMAX provider Packet One (P1) has said that a number of parties have approached it regarding a possible stake sale, according to local news source The Business Times. One company named as a possible suitor is South Korea’s SK Telecom, although it is understood that talks between the two operators are only in the early stages. P1, a subsidiary of Green Packet, could raise as much as USD100 million by selling a 20% stake to a strategic investor, according to reports, with such investment likely to be used to fund the WiMAX operator’s aggressive expansion plans. According to TeleGeography’s GlobalComms Database, P1 had a subscriber base of 139,000 at the end of 2009, giving it a market share of just under 7%.