TM refutes P1 acquisition rumours

22 Oct 2012

Malaysian fixed line incumbent Telekom Malaysia™ has denied suggestions that it is was eyeing a MYR1.8 billion (USD585 million) deal for local WiMAX operator Packet One Networks (P1). According to The Star Online, which cited a filing made by TM to the local stock exchange, the telco has claimed that a local press report linking it with a bid for P1 was ‘misleading as it is based on speculation’. Further, the operator reiterated that it had not announced any interest in bidding for a stake in P1, nor had it sought approval to do so.

Nonetheless, TM did state: ‘TM is however always in search of value creating opportunities as part of our strategy and rest assured, will make any necessary announcements to our stakeholders, where so required.’ The report by The Star Online meanwhile also quotes TM’s chief strategy officer Dr Farid Mohamed Sani as saying that the incumbent has not ruled out the possibility of collaborating with other companies on offering mobile broadband services. ‘We are certainly open to work with Celcom and other mobile providers in reaching out to potential customers. In fact, we are already seeing increased collaborations among industry players in many areas of infrastructure and services, facilitated by the regulatory environment and for the ultimate benefit of the Malaysian consumers. HSBB is one such example,’ the executive was reported to have said.

Malaysia, Telekom Malaysia, webe (formerly Packet One Malaysia)