0
Wireless

TM buys 49 percent in Spice for USD 179 million

Friday 10 March 2006 | 16:17 CET | News

FREE webinar by Telecompaper on the Trends and Developments in the Dutch Telecoms market 2019Q2. Thursday 26th September at 15:00. Register now!

Telekom Malaysia has confirmed it is buying a 49 percent stake in Indian mobile operator Spice Communications. Spice has operations in two of India's most lucrative telecom regions, Punjab and Karnataka, with a combined subscriber base of 1.8 million as of February 2006. The acquisition complements TM's existing operations in Bangladesh and Sri Lanka. TM is buying the shares from Deutsche Bank and Ashmore Investment Management for USD 178.85 million. The remaining 51 percent is held by Mcorp Global and its associates.

Thank you for visiting Telecompaper

We hope you've enjoyed your free articles. Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Mobile & Wireless
Companies: Telekom Malaysia
Countries: India
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.