TIME takes 25% stake in CMC Telecom

11 May 2015

TIME dotCom (TIME), a fixed line telecoms provider based in Malaysia, is acquiring a 25% stake in Vietnamese broadband operator CMC Telecom Infrastructure (CMC Telecom) for USD12 million, writes DealStreetAsia. Under the terms of the Strategic Investment Agreement, both companies will support each other in developing their technology and services, and connecting with international telecom infrastructure. ‘This partnership will benefit both parties under the CMC Corporation’s development strategy and lead CMC Telecom to become a leading regional telecommunications and infrastructure company,’ commented Nguyen Trung Chinh, CEO of CMC Telecom parent CMC Corporation, adding: ‘It will also help CMC Telecom improve its management capacity, technology transfer, and advanced services, and bring further added value to customers in Vietnam and in Asia.’ TIME’s chief executive Afzal Abdul Rahim says the firm sees a huge potential in the Vietnamese telecom market, adding that CMC Telecom is a ‘perfect partner’ to the company’s investment strategy.

Vietnam, CMC Telecommunication Infrastructure (CMC Telecom), TIME dotCom