Companies / India
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Telekom Malaysia Provides Spice to Regional Strategy
March 2006 | Company Finance AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Telekom Malaysia has confirmed that it is to acquire a 49% stake from Ashmore Investments and Deutsche Bank in India's seventh-largest cellular operator Spice Telecom for US$178.8mn. This purchase follows the Malaysian operator's rival telco Maxis buying a 74% stake in India's fifth largest GSM operator Aircel for US$1.08bn. These investments reveal two factors - the continued growth potential of the Indian mobile market and the slowdown in growth of Malaysia, as high penetration rates inevitably lead to saturation in the coming