TelecomÆs Vikings get excited about Malaysia

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. That’s 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.