TM divests remaining MEASAT holding

Malaysian fixed line incumbent Telekom Malaysia™ has announced that it is to divest its remaining stake in the country’s sole licensed regional satatellite system MEASAT Global. According to Bernama the telco has accepted a conditional take-over offer from MEASAT Global Network Systems for its 15.39% stake at MYR4.20 (USD1.34) per share. TM has said that the disposal of the stake will allow it to ‘monetise its investment and will contribute positively to the earnings of the TM Group for the financial year ending 31 December 2010’.