If sources are to be believed, Telekom Malaysia Bhd., the state- controlled fixed telephone operator has lifted US$131 million to sell 90 million shares of Axiata Group Bhd.
According to sources, the shares were sold at US$1.46 each. CIMB Investment Bank Bhd. and Credit Suisse Group AG managed the sale.
According to Telekom, it plans to dispose a total of as much as 191.5 million shares in Axiata through private placements and on the open market.
Telekom Malaysia is the largest telecommunication company in Malaysia. It has a monopoly on the fixed line network and has a considerable market share of the mobile communications market after its acquisition of Celcom and merging with its mobile operation arm, TMTouch.
Article via Wireless Federation
According to sources, the shares were sold at US$1.46 each. CIMB Investment Bank Bhd. and Credit Suisse Group AG managed the sale.
According to Telekom, it plans to dispose a total of as much as 191.5 million shares in Axiata through private placements and on the open market.
Telekom Malaysia is the largest telecommunication company in Malaysia. It has a monopoly on the fixed line network and has a considerable market share of the mobile communications market after its acquisition of Celcom and merging with its mobile operation arm, TMTouch.
Article via Wireless Federation
