Telekom Malaysia might partner with strategic investors to increase their combined stake in Spice Communications to 74 per cent.The Malaysian giant has 39.20 per cent equity in the telecom company and foreign institutional investors hold 9.59 per cent, taking the total foreign holding to 48.79 per cent.The potential partners include United Arab Emirates’s largest telecom company, Emirates Telecommunications Corp (also known as Etisalat).
Spice, the regional wireless service provider, operates in the Punjab and Karnataka telecom circles and has a 2.2 per cent market share in the country’s total GSM space. Recently, it received licences to operate in four more circles -- Andhra Pradesh, Delhi, Haryana and Maharashtra -- but is awaiting additional spectrum.
Read more in The Business Standard article.
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