CELCOM Malaysia Bhd said the company has received a request from substantial shareholder DeTeAsia Holding GmbH to convene a meeting between a senior Celcom official and a senior executive of DeTeAsia, to resolve differences between the parties involved in good faith.
DeTeAsia is the Asian unit of Deutsche Telekom AG.
The differences arise from the question of whether Celcom is under an obligation to obtain DeTeAsia's prior consent to acquire all of Telekom Malaysia Bhd's stake in TM Cellular Sdn Bhd, in exchange for newly-issued Celcom shares, as part of a proposed merger between Celcom and TM Cellular, Celcom said.
In a statement to the stock exchange, Celcom said the Jan 24 notice from DeTeAsia was issued under Clause 8.6 of the Amended and Restated Supplemental Agreement dated April 4, 2002 between Technology Resources Industries Bhd, DeTeAsia, Celcom and TR International Ltd.
The company added that it would take all the necessary steps to resolve the differences promptly and amicably. AFX