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Vodafone in Talks to Take Stake in Telekom Malaysia
Vodafone is reported to be the front runner to take a 25% stake in Telekom Malaysia's (TM) mobile phone division when the company is separated from its landline parent in the second quarter of next year. Telekom Malaysia is creating a new company, RegionCo which will include TM's regional mobile operations under TM International, and domestic mobile operations under Celcom.
Telekom Malaysia recently said that it is intended for the RegionCo to be demerged from TM Group and be separately listed. Since then, the company has been courted by a series of private equity groups and operators seeking to purchase a stake in the company.
Citing unnamed sources, the Sunday Times newspaper says that Vodafone is now the frontrunner to make the investment, which could cost up to US$3 billion for 25% of the new company.
Vodafone declined to comment on the report.
Telekom Malaysia has stakes in mobile operations in Malaysia (Celcom), Indonesia (XL), Sri Lanka (Dialog), Bangladesh (Aktel), Singapore (M1), India (Spice) and Iran (MTCE).
On the web: Sunday Times
Posted to the site on 4th November 2007