TM completes P1 investment

1 Oct 2014

Telekom Malaysia has confirmed that it has completed the investment agreement for its partnership with Green Packet Berhad and SK Telecom (SKT) under which the three will share in the ownership and collaborate in the future growth of Malaysian wireless broadband provider Packet One Networks (P1). With applicable approvals having been obtained from the relevant regulatory bodies and Green Packet shareholders, TM noted that it is now the new holding company for P1 with a shareholding of 55.3%; the remaining 44.7% of the company is split between Green Packet (31.1%) and SKT (13.6%).

In announcing the development, TM said that the partnership ‘drives strong synergies from the three complementary partners to work together to capitalise on a viable mobile opportunity and deliver the next generation of converged communication services’. As such, it has said it will enable P1 to migrate to LTE technology from WiMAX, while providing TM with an LTE-ready platform via which it will be able to offer wireless broadband products to its customers more swiftly and efficiently.

Malaysia, SK Telecom (SKT), Telekom Malaysia, webe (formerly Packet One Malaysia)