telenor-cuts-stake-in-malaysias-digicom

Telenor cuts stake in Malaysia's DiGi.com

The majority of the $491 million placement is bought by domestic investors, including new strategic partner Time dotcom.
Norwegian telecom operator Telenor ASA has reduced its stake in MalaysiaÆs DiGi.com Berhad to 49% as part of a three-way agreement that will also see DiGi gain access to a 3G license.

Telenor directly sold a 10.2% stake in MalaysiaÆs third largest mobile operator through a placement, raising a total of M$1.64 billion $491 million. The transaction, which took place yesterday and was arranged by CIMB and JPMorgan, ranks as the largest equity deal from Malaysia this year although it was primarily taken up by domestic investors.

One of those investors was government-controlled fibre optic network provider Time dotcom, which earlier yesterday announced that it had entered into a strategic alliance...
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