TM plans to boost network and subscriber base of Sri Lankan unit

Telekom Malaysia Bhd, which plans to sell 9.6% stake in Sri Lankan mobile-phone unit MTN Networks Pvt, will use the proceeds to expand MTN's network and boost subscriber base by one-third to two million this year. 

Telekom has invested US$200mil in Sri Lanka since 1994 and wants to expand through MTN, the country's biggest cell-phone operator with 1.5 million users.