Telekom Malaysia Optimistic About India, Vietnam Expansion Plans

Telekom Malaysia's Indian subsidiary, Spice Telecom is a front-runner in the battle to win mobile airwaves in new circles in India, says group chief executive officer Datuk Seri Abdul Wahid Omar. Spice currently operates in two circles, Punjab and Karnataka.

"Based on the rules and criteria, Spice has a good chance in getting a spectrum. One of the criteria, for example, is based on the timing of the spectrum application. On that matter, Spice has submitted its application ahead of quite a few (competitors)," Abdul Wahid told the Business Times newspaper in an interview in Kuala Lumpur.

Spice Telecom is 40.80% owned by Modi Wellvest. Telekom Malaysia owns 39.20%. The remainder in in free float on the Bombay stock exchange.

Telekom Malaysia is also eyeing possible opportunities in the fast growing Vietnam market. State owned operator, Mobifone is expected to be put up for sale next year in what could be an intense bidding battle judging by how many companies have expressed an interest in the market.

"We are continuing to monitor it very closely, and will submit a bid if the conditions are favourable," said Wahid.

On the web: Business Times

 

Posted to the site on 13th December 2007