Japan's NTT DoCoMo has completed its purchase of a 30 per cent stake
of the Bangladesh unit of the Malaysian mobile phone company TM
International Bhd, said a report of Bernama news agency Friday.
It said the Japanese company has purchased the 30 per cent stake by
acquiring all the issued and paid-up shares of TMIB previously held
by AK Khan and its group, it said.
TMIB was incorporated on 15 November, 1997 as a joint venture company
between TM International Sdn Bhd (TMI), a subsidiary of Telekom
Malaysia Berhad (70 per cent), and AK Khan & Company (30 per cent),
one of the largest and oldest private sector corporations in
Bangladesh.
TM International controls the AKTEL brand in Bangladesh, with more
than seven million subscribers, making it the third-largest mobile
phone service provider in the country.
DoCoMo, Japan's largest mobile phone company, bought the stake from
AK Khan Group, which was a major shareholder of the Bangladesh
business since its inception in 1996, TM International said in a
statement. It did not disclose the value of the deal.
Earlier, Japan's premier mobile communications company NTT DOCOMO Inc
announced it was purchasing 30 per cent stake in AKTel, the country's
third-biggest wireless carrier, at a cost of $350 million as part of
expanding global reach.
The announcement of the Japanese cell phone giant came in a statement
posted on its website on June 16 after the company reached consensus
with AK Khan Co. Ltd.
"The new partnership will go a long way towards unlocking the future
potential of TM International Bangladesh," Jamaludin Ibrahim, chief
executive of Kuala Lumpur-listed TM International, was quoted as
saying in the statement.
Bangladesh has one of the world's fastest-growing cellular markets,
with the number of users expected to grow to 70 million by 2011 from
the current 45.4 million.
TM International was the result of a demerger in April by state-owned
Telekom Malaysia. Khazanah Nasional, the investment arm of the
Malaysian government, owns a 44.5 per cent stake in TM International.
TM International shares ended 10 per cent higher at 6.55 ringgit
before the release of the announcement while the broader market
gained 3.4 per cent.
Source:
The Financial Express
__._,_.___ of the Bangladesh unit of the Malaysian mobile phone company TM
International Bhd, said a report of Bernama news agency Friday.
It said the Japanese company has purchased the 30 per cent stake by
acquiring all the issued and paid-up shares of TMIB previously held
by AK Khan and its group, it said.
TMIB was incorporated on 15 November, 1997 as a joint venture company
between TM International Sdn Bhd (TMI), a subsidiary of Telekom
Malaysia Berhad (70 per cent), and AK Khan & Company (30 per cent),
one of the largest and oldest private sector corporations in
Bangladesh.
TM International controls the AKTEL brand in Bangladesh, with more
than seven million subscribers, making it the third-largest mobile
phone service provider in the country.
DoCoMo, Japan's largest mobile phone company, bought the stake from
AK Khan Group, which was a major shareholder of the Bangladesh
business since its inception in 1996, TM International said in a
statement. It did not disclose the value of the deal.
Earlier, Japan's premier mobile communications company NTT DOCOMO Inc
announced it was purchasing 30 per cent stake in AKTel, the country's
third-biggest wireless carrier, at a cost of $350 million as part of
expanding global reach.
The announcement of the Japanese cell phone giant came in a statement
posted on its website on June 16 after the company reached consensus
with AK Khan Co. Ltd.
"The new partnership will go a long way towards unlocking the future
potential of TM International Bangladesh," Jamaludin Ibrahim, chief
executive of Kuala Lumpur-listed TM International, was quoted as
saying in the statement.
Bangladesh has one of the world's fastest-growing cellular markets,
with the number of users expected to grow to 70 million by 2011 from
the current 45.4 million.
TM International was the result of a demerger in April by state-owned
Telekom Malaysia. Khazanah Nasional, the investment arm of the
Malaysian government, owns a 44.5 per cent stake in TM International.
TM International shares ended 10 per cent higher at 6.55 ringgit
before the release of the announcement while the broader market
gained 3.4 per cent.
Source:
The Financial Express
++++++++++++++++++++++++++++++++++++++++++++++++++++++++
SB: Home of the Bangladeshi Teens & Youths
++++++++++++++++++++++++++++++++++++++++++++++++++++++++
-> Official Website: http://www.ShadeshiBondhu.com
-> Group's short url: http://Group.ShadeshiBondhu.com
++++++++++++++++++++++++++++++++++++++++++++++++++++++++
SB: Friends' Family
++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Your email settings: Individual Email|Traditional
Change settings via the Web (Yahoo! ID required)
Change settings via email: Switch delivery to Daily Digest | Switch to Fully Featured
Visit Your Group | Yahoo! Groups Terms of Use | Unsubscribe
Change settings via the Web (Yahoo! ID required)
Change settings via email: Switch delivery to Daily Digest | Switch to Fully Featured
Visit Your Group | Yahoo! Groups Terms of Use | Unsubscribe
__,_._,___
