In a bid to enter India’s attractive telecommunication market, Malaysia’s biggest telecom company, Telekom Malaysia Bhd. has said it is in ‘preliminary discussions’ with India’s Spice Telecom Ltd. to buy a stake in it. The move comes barely a month after its rival Maxis bought a stake in Tamil Nadu’s Aircel. Telekom Malaysia’s wholly owned unit, TM International Sdn. Bhd., is currently in preliminary discussions for a stake. This is consistent with TM’s continued interest in India, which would complement its other South Asian investments in Sri Lanka, Bangladesh and Pakistan. Telekom Malaysia has investments in Indonesia, Thailand, Singapore, Cambodia, Sri Lanka, Bangladesh and Pakistan. Telekom Malaysia missed a chance to enter the lucrative Indian telecommunications market when regulatory requirements forced it to abandon an earlier deal to buy India’s Idea Cellular Ltd. With growth in Malaysian mobile market set to see a dip, both Telekom and its rival Maxis is looking a broad for further expansion.
Wireless Federation » Telekom Malaysia to acquire stake in Spice
Telekom Malaysia to acquire stake in Spice
- March 8th, 2007
- 4:33 pm
- Mobile, Bangladesh, India, Sri Lanka, Indonesia, Singapore, Thailand, Telekom Malaysia, Spice, Idea Cellular, Cambodia
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