TelecomÆs Vikings get excited about Malaysia

Telenor proposes to buy a controlling stake in DiGi.com.
Norweigan telecommunications group Telenor has offered to buy 61% of Malaysias number three mobile operator, DiGi.com

Telenor has offered to pay M$6.60 per share and is hoping this price will allow it to up its stake in DiGi from 32% to 61%. Should all shareholders tender their shares, it would have to make its offer on a pro-rata basis. Thats because Malaysian law says a foreign company cannot own more than 61% of a telecom company. This means that if 100 shares are tendered, Telenor would only be obliged to buy 61 of the 100.

The M$6.60 price represents a 24.5 % premium to the price at the close yesterday,...

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