Telekom Malaysia increases stake in Thailand telecom market

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Telekom Malaysia increases stake in Thailand telecom market

March 15, 2006

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Telekom Malaysia International (TMI), a Telecom Malaysia group company, recently signed an agreement to buy 24.42 per cent of the shares in Samart I-Mobile in Thailand, for 1.3 billion baht.

TMI already holds 19.24 per cent in Samart Corporation, the major shareholder of Samart I-Mobile. TMI is also buying 49 per cent of the shares in Cambodia Samart Communication, increasing its stake to 100 per cent in the company. TMI is reportedly negotiating to buy shares in more communications businesses in Thailand, including mobile phone and broadband internet service providers.