KUALA LUMPUR: Telekom Malaysia Bhd
(TM) is spending a total of RM560mil in a deal that will see it gain control of mobile wireless operator Packet One Networks (M) Sdn Bhd (P1), signifying the incumbent’s seriousness in moving into this sector of the business.
TM is paying RM350mil for new shares in P1 for a 57% stake, while forking out RM210mil at the same time to buy exchangeable bonds from Green Packet Bhd, which presently owns 57% of P1.
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